I am an Ontario permanent Resident. I am wondering If I can claim personal Bankrupty on my Ontario Highway traffic fines of about $8,000, my student load of $7,000 and Visa's $2,300. I am unable to make any minimum payments. How long does it talk to start building credit again, if possible? Does it affect going on Co-op since I am still in school? Can they come after me when I get a job? Am I still able to apply for unemployment when I have got enough hours to apply?

• Bankruptcy does not discharge your obligation to pay the traffic fines, or any other kind of Court fines.
  
  
• Your student loan would also survive the bankruptcy (be fully payable) unless you have been out of school for 10 years.
  
  
• If someone does file for bankruptcy and they are still in school, Canada Student Loans will not advance any more funding.
  
  
• Bankruptcy does not affect your eligibility for EI.

You may want to contact Credit Counselling Services in Ontario about help with your situation.

Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca