Can I Lose My RRSP for filing Bankruptcy?
Under the Bankruptcy & Insolvency Act, when you declare personal bankruptcy a Licensed Insolvency Trustee is appointed. RRSP’s as a general rule are not lost in a Bankruptcy, except for any contributions made to the RRSP in the 12 months PRIOR to filing for Bankruptcy. We highly recommend that you should contact a Licensed Insolvency Trustee for a free consultation. Make sure that you bring all your RRSP paperwork and they will go through all the documentation to see if the RRSP is exempt.
If you are overwhelmed with a financial crisis, J.P. Graci & Associates Ltd can help! Call us now at 519-753-7361.
MORE QUESTIONS
Do I qualify for bankruptcy? How long will I be bankrupt? How much will it cost? How will my credit rating be affected? If I declare bankruptcy, will I lose everything? Should I declare bankruptcy? Will I still be responsible for some debts after filing for bankruptcy? Does Filing for Bankruptcy in Canada Affect My Spouse? What is a bankruptcy discharge and the process involved? What is the OSB and what are their responsibilities? If I file a proposal or declare bankruptcy, what happens to my credit rating? What happens if my creditors vote against accepting my consumer proposal? Can I leave some creditors out of my consumer proposal? How Do I Get a Mortgage After A Consumer Proposal? Can a student with a government student loan go through bankruptcy or get a consumer proposal?
