Bankruptcy Question & Answer Forum - Canada

Author:		Anonymous
Date:		Dec 13, 2007
Question:		My mother has recently declared bankruptcy. I would like to issue an additional credit card of mine for emergency cases. Is there any legal issue with getting a secondary credit card for a person who declared bankruptcy? Of course any charges made on the card are still my responsibility (my credit account).
From:		Alger & Associates Inc.
Date:		Dec 17, 2007
Answer:		If this is a secondary card on your account, there should not be an issue. If you mom is making an application for credit, which you are co-signing for or personally guaranteeing, please note that she must provide notification that she is an undischarged bankrupt when obtaining credit of $500 or more. Vanessa Grant phone: (403) 296-2977 vgrant@alger.ca