Can I get OSAP While in Bankruptcy or Consumer Proposal?

It is very common for people that when they filled a bankruptcy or consumer proposal. That many people have filled the bankruptcy and after that, return to finish their studies. If a person when files a bankruptcy or consumer proposal and getting funding through the Ontario Student Assistance Program (OSAP). Then they have to provide some additional details in order to apply for the OSAP scholarship. So, there is nothing such case that stops anyone from applying OSAP scholarship. After filling the bankruptcy or consumer proposal, they just need to provide additional details for the purpose of application review process.

And if a person doesn’t provide the additional details, then their application will be considered incomplete. No further actions will be taken on that application. So, it is better to fill out all the application form very carefully and provide all the necessary documents with it. And also, the additional details of filing the bankruptcy or consumer proposal. In order to get the loan. Only those applications will be considered whose applications are complete and provided all the necessary documents.

The situation is an important thing in the approval of the loan

The situation plays a vital role in the approval of the loan. The committee will decide the students of whom they want to give the loan. And the basic thing is first they will look for a complete application. And after that they will look up to the situation of the student. So, if the student is applying for the first time then their chances are high that they will get the loan. And if someone has some default loans which are not being paid. Then the chances are less of getting the loan.

 

Provide all the documents about bankruptcy or consumer proposal

It is a very important thing in order to get the loan approved. And in section 610, the application asks the applicant that “Have you ever filed for bankruptcy or initiated a relevant event?” so, it becomes important for all the students to mention it correctly. And if the answer is yes then enclosing all the documents with it needed.

 

Take the help of professionals

Many companies in the market can help students in such cases. Just ask for their help, and they will give the best advice on such topics, and get relief from such problems are prevailing.  In case of you have credit or debt issues visit www.gtacredit.com or call 416 650 1100

 

 

Spread the word. Share this post!