Right of setoff
September 24th, 2007 by Questions
I read somewhere that a person should never ever open an account at a bank that he owed money to before he went bankrupt, because even after that person was discharged, that bank still has the right of set off. Is that true?.
By the same token, if the above is true, can CRA withhold future tax refunds after my discharge from bankruptcy to set off those past liabilities?.