Loan for RRSP secured debt?
December 2nd, 2008 by Questions
I have taken a loan through my credit union for $20,000 to deposit into an RRSP. The loan is over a 5 yr period. If I file for personal bankruptcy, does the credit union have the right to withdraw the money from the RRSP to retrieve the money they loaned. I am aware that RRSP`s are assets and would be withdrawn to distribute to creditors, I am just wanting to know what would occur in the situation of the outstanding loan.
Posted from: Ontario