Bankruptcy Legislation in Canada - It's Update Time

Posted in Personal Bankruptcy
Posted by J. Douglas Hoyes, CA, CPA, LIT, CIRP, CBV

We live in a rapidly changing economy and our legislation, including bankruptcy legislation, needs to adapt to those changes. To ensure that bankruptcy in Canada continues to meet the needs of both consumers and creditors, Industry Canada conducts a review of insolvency rules and legislation every five years. As part of the process they ask […]

Time To Change The RESP Rules for Bankruptcy?

Podcasts
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CA, CPA, LIT, CIRP, CBV

Show #6 - RESPS with Mike Davies, Barton Goth, and Ted Michalos. On today's podcast we cover several issues around Registered Education Savings Plans.

Personal Bankruptcy and Registered Education Saving Plans (RESP)

Posted in Personal Bankruptcy
Posted by Scott Schaefer, CPA, CA, CIRP - LIT

Are RESP's lost in a bankruptcy? Unless an asset is exempt, you are required to surrender your assets to the trustee when you go bankrupt. Since an RESP is not an exempt asset, RESPs are surrendered in a bankruptcy. What is an RESP? An RESP is a registered savings plan for a child's future education. […]