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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Banking with old creditors.

Hi,just wondering if it is safe to try to open a new bank account with the same place I was when my bankruptcy occurred? This place was a main creditor (loan and credit card) in the bankruptcy. I have been discharged almost 2 years. This may seem like a bold move but it makes more financial sense due to better fees and overall convenience. Is there a chance they will reject my application, and even worse, accept it and try to take any money? Thanks.

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One Response to “Banking with old creditors.”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

There is nothing preventing you opening accounts with an institution you used prior to filing bankruptcy in Canada. At a very least they can’t refuse to provide a basic savings account, but the question will relate to additional products (i.e. overdraft, lines of credit etc.) as each individual institution will have it’s own approval requirements and as a result it is difficult how easy they will be to deal with for these more complicated matters.