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Personal Line of Credit & Consumer Proposal

If I have a personal line of credit, unsecured joit with my spouse with no balance outstanding will the bank close it???

Posted from: Ontario

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One Response to “Personal Line of Credit & Consumer Proposal”

A licensed trustee said...

Probably, unless your spouse qualifies for the line of credit by themselves. Under no circumstances should you try and use the line of credit after you file without first confirming with the bank that you may do so – the last thing you want is to start bouncing cheques after you’ve filed a consumer proposal or bankruptcy.