RRSP and Loan For

October 27th, 2009 by Questions

It would be advantageous to me for varied reasons to stop paying my credit card debt and let them get a judgement and go bankrupt after that.
Any downside to this plan? I have no assets worth mentioning

Posted from: New Brunswick


One Response to “RRSP and Loan For”

, A licensed trustee said:

The only risk you run is that if you deliberately cause a creditor’s costs (ie legal and collections costs) to increase while knowing that you intend to file for bankruptcy you can be ordered to pay those costs.

Think of it this way, how would you feel if a friend borrowed your car knowing full well you had to be someplace for 5 pm and brought it back to you three days later and in a wreck?

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