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Bankrupcy and Student Loans

I had an outstanding canada student loan from 15 years ago which I included in my buncrupcy filed May 3, 2004. I was discharged Feb 4, 2005. Now I am trying to apply for OSAP to go back to college, and have been told that I cannot receive it because my CSL defaulted. What can I do to receive a CSL now?

Posted from: Ontario

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One Response to “Bankrupcy and Student Loans”

A licensed trustee said...

If you had been “away from school” for at least 10 years when you filed for bankruptcy in 2004 then these student loans should have been discharged by your bankruptcy. If you hadn’t been away from school for 10 years then they wouldn’t have been dealt with and that may be why they are listed as being in default now.

You need to determine whether or not your loans were dealt with by your bankruptcy and depending on that answer, you’ll either need to communciate with CSL so that they update your records or find a way to deal with the loans before you apply for anymore.