senior citizen
June 15th, 2012 by Questions
General question: Revenue Canada has taken CPP for income taxes owing and now OAP has been applied for and they apparently can take this too. Question: If bankrupcy is declared can CPP and OAP be reinstated. There is little or no other income Thank you
Posted from: British Columbia
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June 15, 2012 at 9:25 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
If you file for bankruptcy there is an immediate Stay of Proceedings that is put in place. What this does it immediately revokes your creditors rights to seize or garnish any funds for payment of past debts and this would include CRA. So yes, if you filed for bankruptcy your CPP and OAP would then start coming back to you.