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

"*" indicates required fields

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

This field is hidden when viewing the form

Source

How can we help you?

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Name

This field is for validation purposes and should be left unchanged.

Select Trustee By Province

RESP and banckruptcy

I opened an RESP for my daughter 3 years ago with the minimum of $2000 and automatically, there has been about $1500 grants from government added to this account. I haven`t been able to contribute anything since then. I am in debt and was wondering if the creditors are allowed to withdraw money from this RESP account ! specially the bank where i have this account and i owe them in the meantime.

thanks.

Posted from: Alberta

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “RESP and banckruptcy”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Hello,

This is an asset that your creditors can go after as RESP’s are not considered an exempt asset under the Civil Enforcement Act of Alberta. Now they typically can’t simply withdraw money from that account, but would have to go to court to obtain a judgment and get an order for the RESP to be seized.