2011-03-25
Credit card debts are debts that are listed in your bankruptcy. When you file for bankruptcy in Canada, you prepare a sworn Statement of Affairs….a statement listing all of your assets and all of your debts. Credit cards would be listed on there. They are unsecured creditors, meaning that they hold no collateral for their debt. Unsecured creditors will be discharged in your bankruptcy except for those listed in Section 178 of the Bankruptcy & Insolvency Act. As far as credit cards go, they could only be included in these debts that survive a bankruptcy if there was some type of fraud involved, or obtaining property by false pretences. And the credit card company would have to prove this. So assuming that your credit cards were just day-to-day typical usage, they would be discharged in a bankruptcy. Donna Carson, CGA, CIRP, Trustee Calgary and Central Alberta regions 1.877.500.0792 [email protected]
2026-07-13
MNP Consumer Debt Index
Atlantic Canadians (68%) are more likely than those in other provinces to say at least half of their income is already committed to bills, debt payments, and regular expenses before it arrives.
2026-07-13
MNP Consumer Debt Index
According to the latest MNP Consumer Debt Index, three in five Canadians (61%) say at least half of their income is already committed to bills, debt payments, and regular expenses before it arrives.
2026-07-13
MNP Consumer Debt Index
According to the latest MNP Consumer Debt Index, nearly three in five British Columbians (58%) say at least half of their income is already committed to bills, debt payments, and regular expenses before it arrives.
