Bankruptcy after cashing RRSPs
October 13th, 2009 by Questions
If someone gets laid off, has not owned a home in over a year, cashes RRSP`s to live off of for the past year, and keeps paying creditors until they simply run out of money and can`t pay anyone anymore, and still have no job but have a huge debt, how long after that can they declare bankruptcy? In addition, not all creditors stopped receiving payments at exactly the same time. The payments stopped over a period of a few months as the cash flow (ie RRSP proceeds) of the person diminished. No creditors were paid off completely.
Posted from: Ontario