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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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RESP and bankruptcy in Canada

My husband wants to buy into a non-profit RESP for our children. I don’t work and therefore would not be contributing to it.

I am considering filing a personal bankruptcy. Would the creditors require him to cash in the RESP? We currently have no savings plan started but want to get going?

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One Response to “RESP and bankruptcy in Canada”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

As long as you can directly trace the funds to your husbands income I don’t think the creditors would be able to say to much. While they may try, it would difficult for them to make the argument that these investments represent your monies. The trick is make sure you can clearly demonstrate that these funds came from him, not you.