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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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Getting a prepaid or secured credit card during bankruptcy

I am considering filing for bankruptcy but everywhere I go it seems a credit card is required… ie visiting a sick relative out of town and having to stay in a hotel or rent a car. My question is, if I file for bankruptcy, am I able to get a prepaid or secured credit card with a small limit within the first few months of filing?
Thank you.

Posted from: British Columbia

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One Response to “Getting a prepaid or secured credit card during bankruptcy”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

The only restriction with a bankruptcy is that you must turn all your credit cards over to your trustee when you file for bankruptcy. After you file as long as you disclose to the provider of the secured credit card that you are in bankruptcy there isn’t any problem with this. There are a few institutions that regularly will provide a secured credit card within the first couple of months, the one I see the most regularly is through Capital One.