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credit card in consumer proposal

I was told that if I had no balance on one of my credit cards I could keep it when I went into a consumer proposal.Is this true.

Posted from: Alberta

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One Response to “credit card in consumer proposal”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

No this is not true. As part of the consumer proposal you are not entitled to keep any credit cards. The only exception for credit cards mentioned in where the credit card was issued to a third party (e.g., employer, spouse, friend, parent) and the issuer or the third party has authorized you to retain the card in question.