Should I declare bankruptcy?

Question: my common law partner wants me to go bankrupt again; we both have our own credit,he is suposed to give me 450. a month to help; he has not been giving me it last time borrowed half back. I do not want to lose my RRSPs.I have 6,000. worth not locked in my income fluctuates approx 16,000. to 18,000. my debt is approx 16,000.I have not been very good with my credit.Could you advise me on what to do.I have jumped into things with him too quick over 30 plus years. Thanks

Answer: I strongly suggest that you mmet with a trustee to review your options. Bankruptcy is an option, but you will lose your RRSPs. Another option is a consumer proposal that will allow you to deal with your debts, and keep your RRSPs.

Labels: bankruptcy, consumer proposal, RRSP