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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Bankruptcy after 6 years

Seven years ago I filed bankruptcy and got my discharge after nine months. My student loan was part of it. As you know one part of it didn’t go through bankruptcy and it seems I have to wait 10 years.
I’m trying to rebuild my credit but the student loan is still in my credit report (with the name of collection agency that is trying to reach me), which is an obstacle in my credit history. The question is what are my options to get it out of my credit report? Should I contact Canada Revenue Agency or should I contact the collection agency that is on the case?
If I start paying minimum monthly payment, does it go out of my credit report? Or it has to be full payment at once.
Thank you so much for your help in advance. By the way, your web site is very HELPFUL. I’ll send it to my friends who are in bad financial position.

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One Response to “Bankruptcy after 6 years”

A licensed trustee said...

You don’t really have any options for removing your student loans from your credit report – at least not as long as someone is actively trying to collect them.

If you have now been out of school for 10 years you may apply to the Court to have your student loans retroactively discharged by your bankruptcy – it is not a complicated process, but you’ll likely want a lawyer to assist you.