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consumer proposal and or bankruptcy and RESP

I am going to do a consumer proposal and my husband is filing for bankruptcy. What happens to our jointly signed RESP’s for our children? We are both named at contributors (but have not contributed in 6 months).

Posted from: Ontario

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One Response to “consumer proposal and or bankruptcy and RESP”

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

You should discuss this with your trustee, but form what you have said your 59% share of the contributions will remain intact as you are doing a consumer proposal and your husbands 50% share will either have to be liquidated or your husband will have to provide the cash equivallent into your trustee as part of his bankruptcy.