September 21st, 2005 by Questions

Will my RRSP savings will be forced to cash out to pay off the creditors??


One Response to “RRSP”

, Barton Goth, GCO Inc. Bankruptcy Trustees said:

In most cases, unless you have a RRSP which is written through an insurance company, or is locked in as a pension rollover, it would be turned over to the trustee in a bankruptcy. However, exemption rules are different in every province, so I recommend that you contact a licensed trustee to review the RRSP paperwork and to give you advice before you make the decisions.

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.)