FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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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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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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Tax refunds?

My friend filed bankruptcy and was discharged Nov,2004. She then realized in 2006 that for many years she had been filing her income tax incorrectly. She had a reassessment of the years 1995-2000 and it was found that she was owed almost $5000.00. This cheque has been sent to her trustee and he says she may not get it back !!! Is this legal and proper procedure?

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One Response to “Tax refunds?”

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

Unfortunately, any tax refunds from years prior to the bankruptcy become assets that must be divided as specified by the Bankruptcy and Insolvency Act.