FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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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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Filed ..now what can I do?

I filed for Bankruptcy this week. Other than a large Rev Can debt I am doing ok fiancially. My monthly payments are manageable and leave me with some disposable income. My questions is …. I want to start planning for my financial future by opening and RSP. Can I do this while bankrupt or do I have to wait until I am released in 9 months? If I do open one will it be seized by the trustee anyway? Am i better to put the money aside and open it when I am released with a lump payment contibution?

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One Response to “Filed ..now what can I do?”

A licensed trustee said...

As long as you perform your duties properly during the bankruptcy, including the filing of monthly income statements and making the required payments based on your income, you are free to do whatever you want with any “extra” money. In fact, savings are encouraged if you are able.

If you are at all concerned, give your trustee a call and confirm with them everything I just told you.

Good luck with your bankruptcy.