Bank Account & RRSP
August 24th, 2011 by Questions
My husband and I are thinking about doing a consumer proposal. We met a trustee this am, she advised us to open a new bank account that we don’t owe money to. She also said to move everything over to that new account. Should I also move my RRSP’s as they are with the bank I currently owe most debt to.
Posted from: Ontario
One Response to “Bank Account & RRSP”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
August 24, 2011 at 8:44 pm, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
You can move the RRSP’s if you like, but realistically you don’t have to. RRSP’s are exempt items that for the most part a bank can’t seize. That is not the case with cash, so that is why it is important to move the bank accounts. But if you wanted to move the RRSP’s it wouldn’t cause any problems.