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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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Will I lose my RRSP if they are not locked in

Hello
I was wondering, if i file for bankruptcy is it possible for me to lose my rrsp`s if they are not locked in. If there is a change of losing them; wouldn`t it be better to file a
proposal?. I live in NB
thanks

Posted from: New Brunswick

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One Response to “Will I lose my RRSP if they are not locked in”

A licensed trustee said...

As of July 7, 2008 the only RRSP money that you lose when you file for bankruptcy is/are the funds deposited in the 12 months immediately preceeding the date of your bankruptcy. Any money that has been on deposit in excess of 12 months is exempt (safe) from seizure.

That being said, you may still want to consider a consumer proposal – use the links on this page to find a trustee in your area so you can discuss your situation in person with a professional.