Am I ambe to keep a credit card under a consumer proposal
If I am considering a consumer proposal and I am accepted am I still able to continue to hold a credit card? Or would I have to start a secured credit card right away?
Posted from: British Columbia
When you file a consumer proposal you are required to either provide to your trustee or destroy any credit cards you have. The only exception to this rule is if
a) the credit card was issued to a third party (e.g., employer, spouse, friend, parent); and
b) the trustee has confirmation that the issuer or the third party has authorized the bankrupt to continue to possess and use the card.
Otherwise you are looking at having to start a secured credit card.