December 21st, 2011 by Questions
What`s the next step if CRA froze your bank account and you don`t own any assets and no money three days before christmas? Help!
Posted from: Alberta
December 21, 2011 at 9:53 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
There are a few choices available when bank accounts are frozen. They are as follows:
1. Negotiate payment arrangements directly with CRA and have them remove the hold;
2. File a consumer proposal which will immediately effect a stay of proceedings remove any of your creditors rights to freeze accounts (including CRA); or
3. File a bankruptcy, which also will remove CRA’s collection rights.
My guess is that CRA will not be willing to negotiate terms. Once they have taken action it is often difficult to get them to back down. So you are likely looking at the consumer proposal or the bankruptcy. The first step there is you must meet with a local trustee, given the time of year and the pending holidays I would recommend that you contact them right away.
Log in to Reply
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.)
You must be logged in to post a comment.