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How To Deal With Tax Debt

Posted by in Tax
26
Jul 2017
If you have outstanding tax debts, you should immediately get in touch with the Canada Revenue Agency (CRA) to work out a payment plan and avoid steep penalties. That said, the CRA is not that flexible when dealing with debtors. For instance, most penalties usually include added interest as you repay. Furthermore, the ...


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Will A Bankruptcy Filing Affect Your Job?

Posted by in Bankruptcy
14
Jul 2017
It’s unfortunate that many individuals are afraid to declare bankruptcy because they feel that their peers, colleagues, or even employers will view them as irresponsible. Yet, there are many genuine reasons that could move a person towards filing bankruptcy, from lost or diminished income due to the death of a spouse to severe ...


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5 Leading Causes Of Bankruptcy In Canada

Posted by in Bankruptcy
12
Jul 2017
Many Canadians struggle with debt for longer than they need to because of the fear that declaring personal bankruptcy could tarnish their image. However, there are numerous challenges that cause another 120,000+ Canadians to file for bankruptcy annually. You’re not alone. Knowing the typical causes of bankruptcy can ...


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Can Debt Expire?

Posted by in Debt
7
Jul 2017
In Canada, the statute of limitations prohibits creditors from collecting or suing for unsecured debt in certain situations after a certain time period has passed. Keep in mind that the debt still exists, however it can not be collected by the creditor. Expiry places you in a favourable position to negotiate a good ...


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