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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Credit Cards

Re: Last post(s) on credit cards

Are there rule in place or principles that prevent debitors from bankruptcy due to using their credit less 30 days since declaration?

Also, many stores (furniture/appliances) provide no money down. no payments for 6 months etc, what if in that time you go bankrupt without making a payment, does it show bad faith and forces the discharge to be disallowed?

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One Response to “Credit Cards”

Barton Goth GCO Bankruptcy Trustees said...

While normally it is not an issue and a supplementary cardholder does not neet to worry as the debt is listed under the primary card holders name.

However, if you have made a number of purchases on your card it is potentially possible for the credit card company to hold you responsible for the purchases you have made.