Secured Credit Card Before Consumer Proposal

June 6th, 2012 by Questions


I have faced the music – I am deeply in debt and will have no choice but to file a consumer proposal. I have been doing so much reading on here about people having a hard time being approved for a secured credit card during a consumer proposal I am wondering if I should apply for one before I do the proposal?

Posted from: Ontario


One Response to “Secured Credit Card Before Consumer Proposal”

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


There is no point applying for a secured card before you file a consumer proposal as there is a greater risk the card will have to be destroyed or it will be cancelled. I would wait until after you have signed the consumer proposal. You may have read about people having a hard time, so I don’t think these comments are really representative of reality. Most people I have seen have gone through Capital One and found it pretty straightforward.

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