odsp money owed for taxes

September 1st, 2008 by Questions

hi this is my situaton may 2007 i was diagnosed hiv pos. i had my own business and was
subcontracting off another company. at that time i owed 8000.00 for taxes
+ for a year that i havent claimed for… so aprox 10-12000 owing and
have no credit really to speak of… a loan from dell and a secure credit
card. i had to go on disability because i was too weak to continue to
work. now that i have had time to get used to the meds and stabalise my
system i have the opertunity to go back to work as a full time employee
of the company i was subcontracting off of. im 40 yrs of age and tired of
paying other peoples mortgages i just want a place of my own. i have no
savings but its funny how my dreams dont seem to die i would like to know
how to get my life in order and become a homeowner. i would apreciate any
advice you can give me … btw i live in toronto ontario canada

Posted from: Ontario

Questions

One Response to “odsp money owed for taxes”



September 02, 2008 at 9:04 am, A licensed trustee said:

How you deal with this depends on how much it costs you to live in comparison to hwo much you will be earning at your job.

I sense from your comments you’d like to deal with thsi quickly (ie pay back as little as possible of this debt), but I can’t give you that kind of advice without knowing a great deal more about your situation.

You have the right to file for bankruptcy – the cost will depend literally on how much you are going to earn and it will definitely deal with the debt (even the taxes).

If you are earning enough, you may want to consider a proposal – a payment plan where you repayu a portion of the debt (yes, even the taxes).

If you are making quite a good salary you may simply wan to contact the government and apply to the Fairness Commission to have the interest and penalties on you taxes reduced (due to your health issues) – maybe you can afford to repay the debt in full without resorting to one of the other solutions.

I know I haven’t answered your question – use the links to find a trustee in Toronto and I’m sure they will provide you with more information.

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