CRA debt

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CRA debt
« on: April 06, 2014, 01:15:43 AM »
I have a huge CRA debt and was advised last year to go bankrupt to eliminate.  I delayed because I wanted to wait for 2013 to finish.  Now CRA has put the "writ of seizure and sale" registered to my house.  I share jointly the house with my wife and she has nothing to do with the debt and this is the only debt I have other than Mortgage. At the moment there is only about $40,000 equity in the home. 

Is it too late to go bankrupt and eliminate this debt.



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Re: CRA debt
« Reply #1 on: April 06, 2014, 05:28:16 PM »
Once a writ is in place, bankruptcy (or a proposal) doesn't remove it; it's now like a second mortgage. You'll have to deal with CRA to determine what their exact intentions are.


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