RRSP and personal bankruptcy in Toronto

Hi,
When I file for bankruptcy in Toronto, will I lose everything I have in my RRSP?
FYI:
My RRSP are held with my bank, almost all of it are invested in various equities.
Thank you in advance

This entry was posted on Tuesday, May 2nd, 2006 at 8:48 pm by Questions and is filed under Uncategorized. You can leave a response, or trackback from your own site.

One Response to “RRSP and personal bankruptcy in Toronto”

J. Douglas Hoyes, CA, Trustee says:

May 4, 2006 at 11:05 am

Yes, if you file for bankruptcy in Toronto, you will lose everything you have in your RRSP. The only exception will be if your RRSP is “locked in” as a result of your previous employment. In your case your RRSP is with a bank, so you should review your last statement from the bank to see if they are locked in.

Feel free to contact us to help you review your RRSP.

If you have large debts but want to keep your RRSP, another option to consider would be a proposal.

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RRSP and personal bankruptcy in Toronto

One Response to “RRSP and personal bankruptcy in Toronto”

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