In to Deep

July 27th, 2009 by Questions

I owe Canada and Quebec aprx. $70,000 in back taxes. Is there anyway I can pay them payments for a few years and stop intrest? I am 57 and do not work just widows pension amt $671.00. I am married but these are have nothing to do with my husband We have only been maaried 5 yrs. I want to pay and not go Bankrupt. Is the anything I can do. As of now I can`t even open a bank account for fear they will seize it.

Posted from: Quebec

Questions

One Response to “In to Deep”


, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

If you are unable to negotiate a payment plan directly with Canada Revenue Agency (CRA), although they likely won’t be willing to stop the interest and penalties, then the only other things you can try are as follows:

1. Consolidation loan. The problem with be qualifying as most banks are not willing to lend if you have large arrears with CRA.

2. Formal proposal to creditors. You could consider filing a consumer proposal to pay your debts in full over a period of 3 to 5 year time. This is done through a licensed trustee and is probably your best bet to avoid this situation without filing for bankruptcy.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)