- Help Center
- Consumer Proposals
- Credit Cards
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Consumer Proposals
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Personal Bankruptcy
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Debt Repayment Options
- Do Nothing
- Debt Consolidation Loan
- Informal Agreement with Creditors
- Debt Management Program (DMP) - Offered through Credit Counselling Society
- Orderly Payment of Debts (OPD) - Offered through Money Mentors
- Consumer Proposal (debts less than $250,000, excluding principal residence mortgage)
- Division I Proposal (debts over $250,000, excluding principal residence mortgage)
- Bankruptcy
Can I apply for a credit card when I am in an insolvency process?
Yes, you can apply for a credit when you're in the insolvency process.
However, it is recommended to let your credit card company know you are in an ongoing Consumer Proposal.
It is likely that you will only be approved for a "Secured" credit card – requiring you to make a deposit to cover any default.