Anonymous asked in Education & ReferenceFinancial Aid · 7 years ago

osap while im bankrupt?

My situation right now is I owe about $12000 in multiple loans (mostly payday loans, but also Rogers, Presidents CHoice Mastercard, and city fines that ended up on my credit score)

I am in the process of filing for bankruptcy, but I also want to get OSAP for my schooling.

WIll I be automatically denied if I proceed with bankruptcy? Will I be denied in my current situation also?

SHould I just not attempt to get OSAP and wait another year for school (I can also get INdian Affairs funding, but was denied this year due to limited funding)

2 Answers

  • 7 years ago
    Favorite Answer

    if you have 3 or more accounts in the last 3 years, each over $1,000 you will fail the credit check. you can appeal if you can show that the events that resulted in your financial situation were beyone your control. The bankruptcy is not, in and of itself a stopper, but it does indicate very bad credit. Should they approve you for OSAP you will have to get a letter from your trustees saying that (a) OSAP was not a part of your bankruptcy and (b) no OSAP funds will be seized to pay your debts.

  • mister
    Lv 4
    4 years ago


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