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Thank you for all your help and thank you for taking all my calls and answering all my questions.

- individual we've assisted

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Business debt to CRA

I owe the CRA (Revenue Canada) over $30,000. I tried to run my own business but it didn't work. I have other depts as well. Can I go bankrupt?

Answer

Yes, bankruptcy will assist you to deal with debt relating to personal taxes and business related debts in addition to personal debts such as credit card debt.

It is important to understand income tax debts and the options available to individuals to deal with them. If you are in this situation, you would definitely benefit from seeking professional advice from a licensed bankruptcy trustee who will review your options. The initial consultation is FREE with no obligation. Call us toll free in the Thunder Bay, Ontario area at 310-8888.

 

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