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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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CCRA – Tax Debt

I owe CCRA a sum of money from 1998 taxes. I am unemployed, legally separated and have just got into a new relationship. My boyfriend has offered to give me 50% of the amount to settle with CCRA. Most of the amount is interest but CCRA doesn’t seem to want to discuss reducing the interest.

Is my only other option to go declare bankruptcy?

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One Response to “CCRA – Tax Debt”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

The only way you will get any concessions with Canada Revenue Agency is by filing a formalized proposal. Unless this formal process is utilized Canada Revenue Agency will insist on payment in full (including interest and penalties).

As a result you would be best to click the following link to and contact a local trustee and discuss how a proposal can be utilized to accomplish just what you are describing.