July 14th, 2007 by Questions
I have read that Banks have the right to seize funds in cash accounts with them when your in default on credit with them. My question is – does that same right exist to RRSP’s? If I owe “A” Bank and happen to have $15K in RRSP’s at “A” bank – can they take that money by cashing in my RRSP’s without first pursing a judgement and without my consent. The money owed to them is unsecured.