Question Asked...
I live in Quebec and I’m thinking about filing for a consumer proposal, or possibly bankruptcy. I would like to obtain a secured Visa card so that I can continue with my business once I file the proposal or bankruptcy. However, the secured Visa card does not seem to be available in Quebec. What other options do I have ?
Try contacting a local bank, explain your situation, the idea behind the secured credit card and ask if they would be willing to let you lock in a sum of money into a GIC, pledge it as security against a credit card with a similar credit limit. Often institutions that don’t advertise these produce are open to non-traditional arrangements as long as they understand the contract and the limited risk they will be exposed to.