I have read your site, which has been very helpful. And I have narrowed it down to the filing of a consumer proposal. I know I need to, but I am curious about a credit card. I really need to keep a credit card because I have to travel for work. I know that if I file a bankruptcy I cannot keep any credit cards. Can I with a consumer proposal?
Credit Cards and a consumer proposal
Posted on Monday, October 20, 2008
posted by Questions @ 9:48 pm
1 Expert Comment:
At October 22, 2008 |
8:09 am
, Barton Goth, Trustee in Bankruptcy Said...
The same requirement in a bankruptcy exists in a proposal. The only circumstances you can keep the card is if the following two conditions are met..
1. the credit card was issued to a third party (e.g., employer, spouse, friend, parent); and
2. the trustee has confirmation that the issuer or the third party has authorized the debtorto continue to possess and use the card.
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