Credit Cards

What happens to your credit cards when you file bankruptcy?

In a bankruptcy filing you are required to turn in, for destruction, all your plastic credit cards, with exceptions only where you are a supplemental card holder, say, for your spouse. Ken has gotten pretty darn good at slicing and dicing credit cards over his 40 years of helping people deal with their debts.

Sometimes credit cards are just pieces of plastic

What happens to your credit cards when you file a consumer proposal?

In consumer proposal, the expectations are more gentle. You can keep and continue to use a credit card that has no balance owing on the date you sign your consumer proposal. However, if the card issuer becomes aware of your consumer proposal filing, they can decide to cancel your card privileges.

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