Can Bankruptcy stop CRA Collection?

Can Bankruptcy stop Canada Revenue Agency Collection

Do you have concerns regarding a Canada Revenue Agency Collection and how a proposal or bankruptcy affects this difficult issue for you?

First before you can file for bankruptcy or a consumer proposal, a trustee must examine your finances to authenticate that you are insolvent. Someone who is insolvent, must owe at least $1,000.00.Also, they must be in general incapable of paying their debts as they are due, or have stopped paying their debts altogether, and/or their debts are greater than their assets. Read more on what is insolvency.

Once you are declared insolvent, then the trustee will review all possible options available, including alternatives to a proposal or bankruptcy

Consumer Proposal / Bankruptcy and the CRA

In numerous cases, CRA (Canada Revenue Agency) taxes can be included in a bankruptcy – nevertheless the CRA has the option, to not allow some taxes to be included.

It is also possible to have the CRA (Canada Revenue Agency) consent to a reduced sum on outstanding taxes when a Division I Proposal or Consumer Proposal is filed.

So there is hope if you have outstanding payments owning to the CRA. The next step is to call us for a free consultation where we can review your case, and help determine which the best option for you to take is. If you live in the Toronto area, you are welcome to call us at 416-498-9200.

For some past CRA Case Histories with David Sklar & Associates, see the following

http://davidsklar.com/blog/case-history-doug-bankruptcy-and-the-cra/ – Doug’ had prolonged health issues and large debts to creditors and the Canada Revenue Agency (CRA). Read more on this case history.

http://davidsklar.com/blog/division-1-proposal-for-a-small-business/ – This is a Division 1 Proposal Case History. ‘Mark’, An IT Manager faced up to his mistakes and deals with a Canada Revenue Agency garnishee. Read more on this case history.

 If you are facing financial problems and have surmounting debt, call the offices of David Sklar & Associates for a free consultation. We are here to help you!

Share This!

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on pinterest
5.0
Based on 666 reviews
Best thing I ever did! Don't let the messaging out there convince you being unable to manage your debt is shameful and a failing. Cori is amazing! She knows what she's talking about and she will guide through all your options. Everyone I've dealt with at David Sklar has been respectful and friendly. This was life changing help for me.
F Volpe
05:07 11 Jan 21
Cori, she’s very helpful and patient. She treated me with respect. She took so much time to explain to me what’s the best way to resolve my financial problem and teach me how i can save to avoid thesame problem again. Cori thank you so much.
Maria G.
19:07 03 Jan 21
I highly recommend David Sklar & Associates, especially Rhoda Lewis, she listened with patience, understood my whole situation, advised professionally, she has many years of experience and is very knowledgeable, I felt confident with her work, she handled my case and guided me every step of the way, she reviewed with me in detail, and is very caring. I really trust David Sklar’s team, they really work and help people in a very simple and professional way. I am so grateful for Rhoda’s work helping me through this situation. Now it is like I received a 2nd chance to live free, I can take control and now take care of other things that matter in my life. Thanks for taking away the stress & weight I was carrying on my shoulders. I can now sleep at night. God Bless you for all your work. Thank you.
Nilda H.
23:34 21 Dec 20
The staff at David Sklar are professional, respectful and honest right from my first phone call. It made a really embarrassing and difficult situation easier to handle. Now I'm on the way to rebuilding my life for my family.Thank you to the team and especially Ashley from the Brampton location.
J H
21:14 12 Dec 20
Ashley Carter was great and helpful. Answered every and each questions in detail and politely. Thanks
Omair pasha
17:32 11 Dec 20
I'm am very pleased that I contacted David Sklar & Assoc. I dealt with Rhoda Lewis, she was very professional and understood my need for their services. Rhoda set up a repayment plan, that was very easy to follow and made everyone satisfied.Going to David Sklar & Assoc. Was the best choice, to make for rebuilding my credit. I recommend David Sklar & Assoc. to anyone who needs help with debt relief.
L. M.
15:29 10 Dec 20
From consult to resolution the service was highly professional. I felt heard and understood. There was no judgement. Jackie always responded to my questions in a timely manner. Most of all, Jackie went all out to see that I got the best care and advise she could find.
evangia cawley
17:51 09 Dec 20
So grateful to the whole team at Sklar for the opportunity to start fresh after a very difficult time of job loss. They went the extra mile for me and have been stellar! J
Jackie
16:20 09 Dec 20
David Sklar and Associates is an outstanding firm. Jackie Stanley is an excellent, professional and warm trustee. Thank you Jackie.
Lioudmila Riagouzova
15:28 09 Dec 20
Ashley Carter was ver professional and understanding. Clearly she assisted in the best way to deal with our issues and executed them very efficiently.
David Gnesin
14:48 08 Dec 20