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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

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One Response to “personal bankruptcy”

A licensed trustee said...

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.