When weighing your options to cope with your debt, its vital that you consider the implications of possible choice. Of a lot debtors look for the help of an authorized Insolvency Trustee so you can score a initiate, and that fresh begin usually relates to a lot more studies to boost its earnings and overall economic balance.
As a result, we are happy to deliver the after the overview out of OSAP’s eligibility standards as it describes bankruptcy and you may consumer proposals below. You’ll find the program instructions in their entirety right here.
Q #610: Perhaps you have filed to possess case of bankruptcy or initiated a connected event? Q #611: Is the bankruptcy discharged? Note: A consumer Proposition is an effective “relevant experiences” When you are making an application for OSAP throughout your user proposition otherwise bankruptcy you then ought to provide OSAP which have:
- A letter from the Trustee indicating one to neither the federal government away from Canada or even the State of Ontario are a creditor on your personal bankruptcy or user offer; and
- Not one of your OSAP investment that you receive would-be captured to repay one loan providers.
Almost every other expense into the federal or provincial government that have been provided in your current case of bankruptcy or consumer proposal may stop you from getting funding out-of OSAP. Continue reading “Do i need to rating OSAP if i seek bankruptcy relief?”