FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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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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Student loan

Here is my situation: I finished school in the summer of 1997. I filled for bankruptcy February 2002 and was discharged in 2003. I was able to make payment arrangement with government few times in the last ten years. Needless to say that I was only covering the interest cost. In March 2010 I lost my job stopped paying and the government is inquiring. What would be my option I am not sure if the new LAW benefits my status. To add to this , I went to see a lawyer and he advised me to file for another bankruptcy which I found very akward. Currently I have some outstanding credit debts and my only income is from EI benefits….any help is much appreciated.

Posted from: Quebec

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One Response to “Student loan”

A licensed trustee said...

You have the right to hire a lawyer and apply to the Court to have your student loans retro-actively included in the bankruptcy you already completed. In Ontario this usually costs around $2500, depending on the lawyer.

Alternatively, you may file for bankruptcy a second time – it will run at least 24 months, possibly 36 depending on your income and will cost at least as much as hiring the lawyer.

It sounds like the lawyer you saw either was unaware of your right to apply to the Court, or they didn’t want to do the work… Contact a Quebec based trustee and ask them for the name of a lawyer that will do this kind of work.