Yes. You must provide your licensed insolvency trustee with a list of every debt you have, including debts to friends and family, money owing on property such as a home, car, boat, furniture, etc, money mart loans, credit cards, retail cards, bank loans, and more.
Sometimes people will try to avoid listing a credit card in an effort to keep one, just for “emergencies.” But most credit card issuers regularly update their database listings of bankruptcies and have an automatic cancellation policy for people who have filed bankruptcy, even if no balance is owed on the card.
Frequently Asked Questions
- What is bankruptcy in Canada?
- Will bankruptcy wipe out all my debts?
- Will bankruptcy stop my creditors harassing me?
- What are the advantages of bankruptcy?
- What are the disadvantages of bankruptcy?
- What is the difference between a consumer proposal and bankruptcy?
- What causes bankruptcy?
- What is a licensed insolvency trustee?
- Can I choose my own licensed insolvency trustee?
- Does the licensed insolvency trustee work for me?
- Will the licensed insolvency trustee come to my house?
- Are my tax debts forgiven in bankruptcy?
- Are tax debts different from other debts during bankruptcy?
- Why did my licensed insolvency trustee tell me to file all outstanding tax returns?
- How long does bankruptcy last?
- What is Chapter 7 bankruptcy?
- What is Chapter 13 bankruptcy?