I owe CRA thousands due to errors filed by my ex
December 15th, 2014 by Questions
I just found out that I am being audited for a mistake my ex-husband made a few years ago before we were separated. For 3 years he over estimated amounts and now I owe thousands of dollars. Instead of claiming bankruptcy, will I be able to try and sell it and use that cash to pay back the revenue agency?
Posted from: Ontario
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December 15, 2014 at 10:33 am, Doug Stuive, CA | Trustee | CIRP said:
I am unsure by your question what you are hoping to sell in order to get cash to pay the Canada Revenue Agency. If you have an asset that you are willing to part with in order to raise the funds to pay back your debt than this is an option to consider. Once you have the cash, if it is not enough to pay back the government in full you can consider the option of filing a consumer proposal. A consumer proposal is an option that allows you to propose a settlement with your creditors to pay back a portion of the debt interest free as a final settlement.
If you would like to provide more information about your situation we can provide you with more specific advice.