Category: Bankruptcy

Holiday Debt Recovery & Elimination

If you’d rather watch the video, you can view it by clicking here.

Did you overdo it this past Christmas? Couldn’t resist, eh? Didn’t stick to that deal you made with your family where all of you agreed to do a scaled-down, simple, old-fashioned Yuletide? There were just too many Star Wars things!

You’re not alone.

How Will my Credit Rating be Affected by Filing a Bankruptcy or a Proposal (‘Consolidation’)?

A common question Licensed Insolvency Trustees field is “How is my credit rating affected if I file a bankruptcy or a proposal?” Generally by ‘debt consolidation’ they are referring to a Consumer Proposal, which is a form of that. But let’s deal with bankruptcy first.

Can CRA Force Me Into Filing Bankruptcy For Not Filing and/or Unpaid Taxes?

Taxes owing and unfiled tax returns are a serious issue in Canada. Canada Revenue Agency (CRA) has always taken a tough approach to individuals or businesses who are in arrears, either through unpaid taxes or having not filed returns. Filing tax returns is a statutory duty under the Income Tax Act (ITA) in Canada. Failure to do so can land you in trouble with CRA.