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Can Bankruptcy Or A Proposal Deal With Tax Debt?

The simple answer to this is yes. If you go bankrupt or make a proposal that is accepted by creditors, the tax debt is included in either process in normal cases. When Can't It Be Included? Here are some of the unusual cases where further action or collection can be taken by CRA; If the [...]

2019-05-31T22:19:40+00:00Bankruptcy, Consumer Proposal|

“Bankruptcy” is not just “bankruptcy”

Bankruptcy is commonly used to describe one of the government law processes available in federal legislation known as the Bankruptcy and Insolvency Act (BIA). The BIA  regulates the options available to deal with businesses and individuals experiencing financial difficulties. Only Licensed Insolvency Trustees (Trustees) are allowed to administrate the options in the BIA. Individuals seek [...]

2019-05-31T22:19:24+00:00Bankruptcy, Consumer Proposal|

Does A Proposal or Bankruptcy Help Clear up your Credit Report?

A Proposal or Bankruptcy Helps Clear up your Credit Report - Myth or Fact? Several times a week I get calls from individuals (debtors) who believe that if they go through a proposal or bankruptcy their debts will be removed from their credit report and that will make it easier for them to get new [...]

2019-03-22T13:01:44+00:00Bankruptcy, Consumer Proposal|

Supreme Court finds that Alberta Traffic Safety Act is not allowed to withhold a license after bankruptcy.

A long standing issue for Alberta debtors has been addressed by the Supreme Court of Canada today. The Supreme Court of Canada has ruled that debts owing as a result of compensation form Section 102 of the Alberta Traffic Safety Act do not apply if a debtor is discharged from a bankruptcy. What does this [...]

2019-03-04T16:44:31+00:00Bankruptcy|

Bankruptcy Canada Interview with Goth and Company

Bankruptcy is a scary word, and an even scarier situation for Canadian’s who don’t have a clear understanding of what it can mean for their future. To help clear up common misconceptions and provide a better understanding of the help available to those in financial confusion, Bankruptcy-Canada conducted an interview with second-generation Trustees Barton Goth [...]

2019-03-04T17:01:54+00:00Bankruptcy|

Tax Debt – Deadline Approaches

Tax Deadline is Approaching It’s that time of year again. Tax time always seems to cause a high degree of stress and anxiety for Alberta Residents.  Actually, the stress is specifically associated to those individuals that don't receive a tax refund, those of us that have a tax balance owing. Even if you have tax deducted at your place [...]

2019-03-04T17:13:14+00:00Bankruptcy, Consumer Proposal|

RESP In Alberta Soon to Be Protected if you file for Bankruptcy

Great News! The Alberta Government takes huge step forward as they move to protect the future of Alberta’s children. RESP in Alberta.  Right now the Alberta government is in the process of amending the Civil Enforcement Act of Alberta to make Registered Education Savings Plans exempt property. What this means is that when these legislative [...]

2019-03-04T17:20:39+00:00Bankruptcy, Student Loans|