Legal Question in Bankruptcy in Florida

I have to file bankruptcy. My husband left and all the debt is in my name. I have no assets and low income. I have a Cdn RRSP Locked In from the company I worked for years ago (as a Cdn) Can the Trustee in the US take those funds? It's $11,000 Total. The lawyer I been dealing with is telling me to file Chapter 13 instead of Chapter 7 just in case the Trustee trys to get these funds from Canada. It does not make sense to me.


Asked on 5/13/10, 1:01 pm

1 Answer from Attorneys
Andrew Moler Law Offices of Andrew C. Moler, P.A.

I am not familiar with this type of account. It sounds like a retirement plan. If it is it should be exempt from your chapter 7. Ask you lawyer to look into this. Filing a chapter 13 is much more complicated and costly. You may have to pay the lawyer to do the research but it will be worth it. A Chapter 7 sounds best for you. If your outstanding debt is more than the $11,000 it would be in your best interest probably file a chapter 7 anyway. Ask you lawyer the cost of a chapter 13 and way the differences. I hope this helps.

Regards,

acmoler

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Answered on 5/18/10, 1:44 pm


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