overdraft protection while in bankruptcy

August 19th, 2005 by Questions

I have just filed personal bankruptcy in Canada. Am I permitted to have overdraft protection on my chequing account?

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One Response to “overdraft protection while in bankruptcy”



August 21, 2005 at 9:20 am, A licensed trustee said:

The simple answer is that while you are bankrupt in Canada you are not allowed to borrow from anyone unless they know you are bankrupt. Borrowing while not telling the lender that you are an undischarged bankrupt is basically fraud, and therefore is not recommended.

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