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

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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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How can we help you?

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 Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Use RRSP’s at face value?

I had heard that you can apply any rrsp’s you may have to your debt at face value and not lose anything to tax. Is this true?

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One Response to “Use RRSP’s at face value?”

A licensed trustee said...

No, that is not true. If you cash in an RRSP, the bank will with-hold taxes. You can then only apply the net amount to your debts.