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bank account froze

can revenue canada freeze my account and leave me with no money

Posted from: British Columbia

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One Response to “bank account froze”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Canada Revenue Agency is different from your other creditors as they have much stronger colletion powers and are not governed by the standard collection rules. As a result CRA can freeze your account or even seize the full balance of the account and leave you with no money. While they normally don’t take everything, it is definately within their powers. If you are at the point where they are doing this I would recommend you contact a local trustee right away so you can discuss the ways to remove this freeze (i.e. bankruptcy or consumer proposal).