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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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Zero Balance Credit Card – Declared Bankruptcy

I have a credit card with a zero balance.
Would I have to surrender that card if I were to declare bankruptcy?

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One Response to “Zero Balance Credit Card – Declared Bankruptcy”

Barton Goth GCO Bankruptcy Trustees said...

Yes, all credit cards must be surrendered when you declare bankrutpcy.

The only exceptions are if it is a 3rd party card or if the bank itself gives you written permission to keep the card and the written permission is provided to the trustee (but these are only possible if there is a zero balance).