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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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thinking about bankruptcy but need to if my rsp is ellible for exemption

Hi, I currently hold rsp which are GIC and would mature early next year. Due to my current finacial situation I am considering bankruptcy but would like to know if my rsp could be exempt. thanks for your advise

Posted from: Ontario

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One Response to “thinking about bankruptcy but need to if my rsp is ellible for exemption”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

If you end up having to file for bankruptcy you don’t have to worry to much about your RRSP’s, these are considered exempt assets and as such there is very little impact on them. The only exception is for contributions made to this RRSP’s in the last 12 months, that is the portion of the investment that is lost when you file a bankruptcy.