If you carry around a credit card or two, like most Canadians, it’s not necessarily a problem. Credit cards offer convenience and flexibility, and used correctly, can help you build a good credit rating as well.
With the deadline to conribute to RRSPs looming (it's on March 1, 2018), it's a good opportunity to talk about how bankruptcy affects your RRSPs. Here's some good new: RRSPs are exempt assets!
Personal bankruptcy laws in Canada are governed by the Bankruptcy & Insolvency Act. Failure to complete your duties will delay your bankruptcy discharge so it is important you fully understand your requirements once you declare bankruptcy.