September 1st, 2005 by Questions
During a consumer proposal, is the use of credit cards completely prohibited ? I am a sole proprietorship and I constantly need to use cards for travelling, etc.
September 02, 2005 at 8:45 am, A licensed trustee said:
As a general rule, you are not permitted to borrow from anyone while in a consumer proposal, unless they know that you are in a consumer proposal. Thus using credit cards during your proposal is not recommended.
If you require a credit card, you will either have to get permission from the credit card company, or perhaps have a friend or family member allow you to use their account (which of course means they are liable for your purchases on the credit card).
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