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

"*" indicates required fields

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?*

This field is hidden when viewing the form

Source

How can we help you?

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.

Comments

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

Select Trustee By Province

Education

can we cash RESP and close account and hide it before filing for CP? and then open a new RESP account after filing for CP and put that money back in- We know that it will be less than original amount due to fees for closing RESP.
What do you think?

Thank you.

Posted from: Ontario

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “Education”

A licensed trustee said...

Normally we’d simply delete this knd of question – you can’t honestly expect some one to tell you that it is ok to break the law…

In this case what you are proposing isn’t necessary. Your children’s RESPs are not cashed out when you file a proposal – only if you file for bankruptcy and you don’t agree to pay an amoutn equal to the cash surrender value.

So befor eyou do anything that will cause you a great deal of grief (and money) speak to a trustee and find out how a consumer proposal works. Whomever you have been speaking to is leading you astray…