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

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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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RRSP`s

I`m a single mother and has been on Maternity leave and am considering bankruptcy as I have too many debts to pay, if i do will i lose my Canada Child Benefit check every month? I also have RRSP`s through Clarica, will I lose those as well(maybe worth $5000)? Please advise, thank you in advance

Posted from: New Brunswick

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One Response to “RRSP`s”

A licensed trustee said...

You don’t need to worry about your Child Tax Benefit unless the government has overpaid you in the past. If they did then they will likely reduce your benefit until they have been repaid – otherwise it should not be affected by bankruptcy.

Any money that you have deposited in your RRSPs in the past 12 months may be subject to seizure if you file for bankruptcy. If you haven’t deposited any in the last year then you have nothing to worry about.

Use the links to contact a trustee in your area and give them a call – they will explain all of this in much greater detail.