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.
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?