Retaining Untapped Credit
August 4th, 2008 by Questions
I currently have close to $75,000 in debt consisting of lines of credit and credit cards, along with some student loans. I also have a line of credit and a credit card that I presently do not owe ANY money on. I am considering filing a proposal.
My questions is this: can I keep the credit lines that have a zero balance post-consumer proposal?
There is no reason I can think of for them to be listed on the proposal as there is a zero balance on them. There would also be no reason to advise the lenders of my consumer proposal status. My research has lead me to believe that there should not be any problem retaining them. Obviously this would be very useful in rebuilding my credit history post-proposal.
Posted from: Alberta