personal bankruptcy
When claiming personal bankruptcy do I have to claim all of my debt? Can I exclude one of my credit cards?
Posted from: Ontario
When claiming personal bankruptcy do I have to claim all of my debt? Can I exclude one of my credit cards?
Posted from: Ontario
Yes, you have to claim all of your unsecured debt. Even if you have a credit card with a NIL balance, you must surrender it to your trustee if/when you file bankruptcy or a consumer proposal.
If you really need a credit card, consider a charge card or a secured credit card – you should discuss these optins with your trustee BEFORE you decide to file.