Credit card while in consumer proposal status

August 28th, 2008 by Questions

I have two more years to go on my consumer proposal and all my payments are up to date. I have no problem making payments and, in fact, have saved a little money. My only problem is I travel off and on in my job and having no credit card can be very inconvenient, troublesome and embarrassing. I received an application from a cc company (Capital One) who (somehow) must know of my financial situation because the application states I can receive a credit card even if I`m *bankrupt* or under *consumer proposal*. Is there any rule against my applying for this card while I still have two years left in my proposal? Thank you.

Posted from: Nova Scotia


One Response to “Credit card while in consumer proposal status”

, Barton Goth - Goth & Company Inc. - Bankruptcy Trustees said:

There is no problem with you applying for a credit card after the filing of a consumer proposal. Often we find it is difficult to get a regular credit card so you may have to apply for a secured credit card in the begining, but again there is nothing in the legislation that stipulates you cannot obtain credit during a proposal.

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