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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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How can we help you?

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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I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

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Canada Revenue Agency Penalty

Are Revenue Canada interest and penalties cleared in a bankruptcy (not a court penalty, a penalty set by Revenue Canada for late-filing for example).

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One Response to “Canada Revenue Agency Penalty”

A licensed trustee said...

Yes they are. In fact, the taxes that you owe (that gave rise to the interest and penalties) will be eliminated if you file bankruptcy or a proposal too.