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Welcome to the Consumer Proposals category of the Support Group. Don't want to file bankruptcy? A consumer proposal is an alternative. This is the place for discussions about Consumer Proposals.
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Discussion: What happens to zero balance credit cards in a consumer proposal?  (Read 453 times)
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« on: January 03, 2012, 08:22:31 PM »
Jamie
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What happens to the credit cards that have a zero balance and you don't owe anything in a consumer proposal? Are the zero balance credit cards given up too? Do those Credit Card companies automatically cancel your card even though in essence you are in good standing with them?
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« Reply #1 on: January 03, 2012, 10:53:48 PM »
confuse
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From what I havve read, there is some trustee that requires you to gave all credit card and other will not ask for them.  As for the credit card company, my experience is that I had a line of credit with one bank, and a credit card with zero balance with the same bank, they cancel my credit card. 

I pulled a equifax report last February (I file in june 2010), and I still had zone retail credit card showing as active (not included in the CP).  So I believe,, that as long as they do not do a credit check again, you couls be ok.
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« Reply #2 on: January 04, 2012, 12:41:48 AM »
tipler
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From what I heard it all depends on trustee, however I have surrendered my credit cards as I wanted to make sure I get back on track and live on cash. Cards that were not involved in CP still show as active but I haven't used them.
I get e statements and will try to pay back the money before using them. Always check with your trustee.
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« Reply #3 on: January 04, 2012, 01:15:05 PM »
Jamie
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I'm mostly corncerned about my corporate Credit card that although its in the companies name its also got my name on it and when the company is late in paying the credit card company calls me not them. Here's the kicker...it does show up on my credit report.
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« Reply #4 on: January 04, 2012, 11:17:31 PM »
tipler
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I'm not sure what happens in that case but you can easily see if it shows up on your credit report.
Equifax on their web site has a link for you to obtain a free credit report.
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« Reply #5 on: January 05, 2012, 10:49:53 AM »
Jamie
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I went on to Equifax but there wasn't any links to a free report but they would sell you access to your credit report. No worries though I know it stinks and once the CP goes in then it will be at its worse. 
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« Reply #6 on: January 05, 2012, 10:16:15 PM »
tipler
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On eqifax page it's under the heading " Other Credit Services " and there is a sentence that starts with
" You can receive a free credit file disclosure from..........
It right on the main page
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« Reply #7 on: January 06, 2012, 07:44:23 PM »
mike72
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Hello Jamie
My trustee told me that all credit cards had to be given up. Even ones with zero balance.  He said your not allowed to make more debt while trying to pay off debt. He said that the CP could get annulled down the road if any of the creditors found out.
Its better to ask your trustee. Just in case
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« Reply #8 on: January 06, 2012, 08:22:07 PM »
Jamie
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Thanks Mike
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