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

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RESP (Joint Subsciber)

What happens with an RESP that is in both parents name and only one files for bankruptcy. Also the RESP was just started about 6 months ago so there is no real equity in it yet.

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One Response to “RESP (Joint Subsciber)”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

This is largely dependant on who the contributions came from. If they can be traced back to the person who files the bankruptcy then the entire investment would be liquidated, if not I would expect that 50% of the existing investment would be liquidated and made available for the creditors.