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On the CRA trying to seize bank accounts….

Can you provide a little clarification on the CRA’s ability to seize funds in a bank account ?

From what I believe I read in this blog, when the CRA attempts to seize funds in a bank account it is a one shot deal.

Meaning that when the CRA request the bank to seize the funds in an account, that request is only good for that one instance and is not an ongoing standing order for the seizure of funds that may subsequently be deposited into the account. And if the CRA wants to take another attempt to grab funds in the bank account at a later time they would have to resubmit a new request each time they wish to try to grab the funds in the account… ?

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One Response to “On the CRA trying to seize bank accounts….”

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

CRA is able to seize a bank account, and whole you are correct that CRA must make a request each time it wants to seize this account and the request expires after it is exercised, it is not very difficult for CRA to submit an additional request. As CRA does not have to obtain a court order it is quite a simple process and therefore allows CRA to continue seizing any funds deposited into the account very easily. Ultimately the only way you can prevent CRA from seizing these funds is by making arrangements with CRA or a credit counseling service to may regular payments on the outstanding balance or by filing a bankruptcy or a proposal with a trustee in your local area (see Find A Trustee on the right hand side of this page).