Income Tax Debt and Bankruptcy

Income Tax Debt and BankruptcyIncome Tax Debt and Bankruptcy

Lawrence owed a large sum of income tax according to his tax assessment and he had difficulty making payments.  Canada Revenue Agency had been charging him penalties and interest on overdue taxes and it was out of control. His child tax and HST credits were also put on hold.  Lawrence was unable to make payments due to a combination of factors such as a decrease in hours at work and a sudden sickness in the family.

He contacted Rumanek & Company to help him consider possible options such as a Consumer Proposal. A debt to Canada Revenue Agency is a debt that needs to be addressed immediately before they garnishee your bank account or wages.  Taking back control of your finances is the first step to not only decreasing stress in your life but also improving your family life.

Contact the Office of the Superintendent for more information.