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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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WHAT ABOUT RRSP`S AND SAVINGS BONDS

Me and my wife are thinking about bankruptcy due to poor descision making with credit cards!
If we apply for bankrupcy will my wifes retirment savings she as be affected like her saving bonds and her RRSP`s?

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One Response to “WHAT ABOUT RRSP`S AND SAVINGS BONDS”

Barton Goth GCO Bankruptcy Trustees said...

If you file for bankruptcy all of the Canada Savings Bonds would be lost and in most cases the RRSP’s.

However, there are some very specific rules when it comes to RRSP’s and in some cases they are protected (i.e. RRSP held by insurance company and the designated beneficiary is a spouse, parent, or child). The best thing to do is to contact a local trustee and have them review these investments to determine how they would be treated.