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Archive for November, 2008

locked-in rrsp account and bankruptcy

Question: How does a filing bankruptcy in Calgary affect a locked-in rrsp account?

Answer: Locked in RRSPs are not affected by bankruptcy; you are allowed to keep them.

In fact, the only money that you lose from an RRSP when you file bankruptcy in Calgary are any contributions you have made to your non-locked in RRSP in the previous year; all other amounts are exempt from seizure.

Credit cards and bankruptcy in Calgary

Question: Does bankruptcy wipe out the balance on all credit cards?

Answer: Yes, debts owed on credit cards are dischargable in bankruptcy in Calgary.

wwww.bankruptcy-calgary.com is a free resource for residents of Calgary Alberta Canada
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