If You Declare Bankruptcy

If you are no longer attending school

If you declared bankruptcy on or after July 7, 2008, (or declared bankruptcy on or before this date and have not been discharged from that process) and you have been out of school for at least 10 years, you must ask for regular reinstatement of eligibility to be considered for any further B.C. student assistance.

You must be reinstated for Canada student loans before you can apply for regular reinstatement of B.C. student loans.

You will need a clearance letter from the Canada student loans program confirming your Canada student loan reinstatement. A copy of this letter is required when applying for regular B.C. student loan reinstatement.

To apply for regular reinstatement, submit a completed B.C. student loan reinstatement due to bankruptcy appeal form [1mb] and be sure to include all of these details and supporting documents:

• A cover letter detailing;
  • your exceptional circumstances for filing bankruptcy
  • specific actions you have taken to rehabilitate yourself financially since the bankruptcy
  • work, studies, volunteering and other activities you have engaged in since declaring bankruptcy
  • your plans, career goals and the desired outcomes of your study program
  • any other information that might help the appeal committee's review of your request.
• Documented proof of all claims you have made in your cover letter, such as:
  • school transcripts confirming your academic standings
  • employment confirmation letters or copies of T4 slips
  • other income information, if you were not working
  • medical records, doctors’ letters etc., if applicable (see below).
• A copy of a clearance letter from the Canada student loans program confirming your continued eligibility for Canada student loans.
• A recent credit report (dated within the past two months) from Equifax or an equivalent credit-reporting agency.
• A copy of the initial bankruptcy papers you filed in order to confirm the date of bankruptcy, details of creditors and amounts involved (sometimes referred to as “statement of affairs” or “initial assignment into bankruptcy”).
• Letters (at least one) from responsible third parties that confirm the reasons for your bankruptcy as well as your current plans, goals and focus for the future (“third parties” can be a counsellor, doctor, religious adviser, relative or family friend).

If you declared bankruptcy for medical reasons, you must provide medical documentation indicating the dates of your condition, the length of time a doctor and/or specialist has been involved with your situation, and how the medical condition contributed to your bankruptcy. This documentation must also confirm that you are now able to participate in full-time studies and then enter the workforce.

Send your application to the attention of the appeal committee, StudentAid BC.