LOC, Overdraft, Secured LOC
July 20th, 2011 by Questions
If a person has $40K in a locked-in RRSP and makes a consumer proposal, can they then access a secured LOC using the $40 K from the locked-in RRSP to secure the LOC? Can they get overdraft protection on their checking account? Cab they get a personal LOC? Is there a mechanism whereby they can sell the $40K RRSP to gain some capital into a savings account, in lieu of a LOC?
Posted from: Ontario
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