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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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Bankruptcy and Back Taxes

I have not filed my personal income taxes for 8 years. As a self-employed person I have found my self with unmanageable credit card debt (20,0000 and due to an illness I’ve been unable to work.
I think that bankruptcy is my only option.
Can I file for bankruptcy before coming clean with CCRA?

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One Response to “Bankruptcy and Back Taxes”

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

You can definitely be cleared from this debt through filing a bankruptcy or proposal. However you will have to file all the outstanding returns so CRA will know exactly how much they have to write off.