proposals and credit card use

December 23rd, 2008 by Questions

If i am thinking about bankruptcy or a consumer proposal and i continue to use my credit cards before seeing a trustee, when i do go to file a proposal or bankruptcy-how does this factor in. Are consumer proposals rejected based on using credit cards before. I m really using my cards to purchase gas, food, and sometimes i take cash advances to make a payment to another card.

Posted from: Alberta


One Response to “proposals and credit card use”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

The best advice is that when you know that you are going to have to file a bankruptcy or a proposal, stop using your credit cards. Continuing to use a credit card on the eve of a bankruptcy or proposal will definitely be factored into voting and could very easily result in a creditor not being willing to cooperate with or vote in favor of the proposal.

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