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

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

This field is hidden when viewing the form

Source

How can we help you?

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.

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Select Trustee By Province

Locked In Retirement Funds

I was fully discharged from bankruptcy last year. I was able to keep my locked in retirement funds. Recently I decided to switch financial planners to manage this LIRA account. However, the company currently managing this account says there is a hold on it due to a bankruptcy. Since the funds will remain locked in until I retire, why should this company have this hold on my account? Can the funds not be transferred to another financial management company?
Thank you.

Posted from: Ontario

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “Locked In Retirement Funds”

A licensed trustee said...

Just so we’re clear – your trustee didn’t put any kind of hold on your funds. The investment componay did that when they were notified of your bankruptcy (their policy, not the law). If you ask your trustee to send thema letter advising that you have been discharged from bankruptcy and the funds belong to you then they should lift the “hold”. If they don’t you may want to speak to a lawyer…