Returning to debt after living abroad since 2007
December 19th, 2014 by Questions
I graduated in June 2006 and in May 2007 I left Canada to move abroad. I have been abroad ever since.
I do recall, in late 2007, I tried to re-extend my 6 months interest-free period, but i found out that I have to be a resident in Canada to do so, and I never followed up since. I did not submit a non-resident application, and I have not paid tax on my foreign-earned income. I have visited Canada every year to see friends and family, but had never made contact with any government entity.
It is now almost 2015, and I am planning to return to Canada. What are my liabilities? What are my obligations? Should I start paying the debt while I am abroad (I am interested in paying it in whatever way that helps me improve my credit score)
My loan was OSAP, partially funded by the CSL and part by Ontario only. I believe my final amount was approximately $40,000, but I am afraid to contact the Ministry of Finance / CRA / whoever else to inquire about the loan and ‘reactivating’ what might be a dormant/dead loan.
Thanks for your help and for your advice, it is really helpful!
Posted from: Ontario