Tax

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Mimi

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Tax
« on: March 11, 2014, 09:38:01 AM »
What happens when CRA tax is not discharged. Does it mean that I will be bankcrupt forever

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Dumdum

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Re: Tax
« Reply #1 on: March 11, 2014, 05:37:37 PM »
I don't know if you have filed a bankruptcy or not by the two previous posts but it looks like you did. You should be asking your trustee what happens as  everybody's situation is different. Your RRSP's won't be attacked by the bank and as  long as you leave them alone and not try to cash them they will stay protected. My advice is to go see your trustee!

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NotATrust-E

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Re: Tax
« Reply #2 on: March 13, 2014, 11:52:49 AM »
What happens when CRA tax is not discharged. Does it mean that I will be bankcrupt forever

In general, if you get discharged, your CRA debts are wiped clean as well. If you don't get a discharge, the CRA (and all other creditors) can continue to collect.

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Mimi

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Re: Tax
« Reply #3 on: March 14, 2014, 06:01:17 PM »
I went to see a trustee. He explained about consumer proposal, and a little bit about bankcruptcy. Reading about bankcruptcy and consumer proposal, I choose consumer proposal. I will be signing the CP next week. I hope it will be accepted.

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Dumdum

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Re: Tax
« Reply #4 on: March 17, 2014, 10:19:11 AM »
Glad you went to see a trustee and decided to do a CP. Try not to worry about if it will be accepted even though we all do. Remember, 99% of all CP's are accepted and the 45 day wait will be gone before you know it. Hang in there! :D

 

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