Alberta Bankruptcy

Author:

Anonymous

Question:

Husband not working I work we have 3 children. Debts have accumualted. Have approx 22,000 in a private pension fund. They won't let me touch. If I could draw that would help eliminate some of the problem. However with out work and problems and debt building. If I claim bankrupt can creditors touch that pension fund

From:

Alger & Associates Inc.

Date:

Mar 10, 2010

Answer:

Pensions are exempt assets and are permitted to keep your pension fund. If you cannot access it neither can your creditors or a Trustee. There is also new legislation that protects all forms of pensions including RRSP's.

Karen Rideout
phone: (403) 296-2973
krideout@alger.ca