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Phone: (604) 605-3335  Toll Free: (888) 850-6585

 

 

Boale, Wood and Company

Boale, Wood and Company

Licensed Insolvency Trustee

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RESP and bankruptcy

December 4, 2012 by David Wood

Will I lose my RESP if I file for bankruptcy?

Yes. An RESP is an asset that can be cashed in to pay off debts to creditors.  An RESP is nothing more than cash and is not held in trust for the children.  However, you can consider a consumer proposal as an alternative to bankruptcy.  In this situation, you do not lose your RESP.

It is important to research your options in order to make the best decision for you.  We suggest that you meet with the professionals at Boale, Wood & Company Ltd. to discuss the options available.  We offer a free initial consultation – details on this page.

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If you have something you’d like to Ask a Trustee, use this form to submit your question.

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Phone: (604) 605-3335
Toll Free: (888) 850-6585
or use the Contact Form

We have offices located in Vancouver and Surrey.  We also provide services to residents and businesses in the Yukon Territory.

 

Looking for Forms?

We have a number of forms available for download here.

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