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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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How returning back to school affects bankruptcy.

I graduated in 2002 with $35,000 in student loans. I returned back to school for only a semester in the fall of 2006 and received an additional $6000. Can I declare backuptcy this year (since 7 years have passed) for the amount incurred in 2002? Or does my return to school deny me this opportunity until 2013?

Posted from: Ontario

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One Response to “How returning back to school affects bankruptcy.”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Returning to school has re-set the clock. So are correct that you would have to wait until 2013 to declare a bankruptcy. The 7 years is measured from the date you last attended school.