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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Sons RESP considered an asset?

If I were to seek advise for my financial hardships would my sons RESP be up for grabs?

Posted from: Ontario

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One Response to “Sons RESP considered an asset?”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

If you are asking whether or not an RESP is an exempt asset or whether it is an asset that is available to your creditors. The answer is the latter, RESP funds remain property of the parent until they are paid out to the child when they are attending a post secondary institution.