2025-09-04
Will Bankruptcy Erase All Of My Debt?
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
2009-06-23
Hi, Kevin. It's pretty hard to answer your question without having more information. Your choices would depend on whether you have debts other than the taxes, what your income is, whether you have other assets, etc. The solution to your problem could lie in a sale of the condo, a bankruptcy (in which case the condo may have to be sold), a proposal to creditors to settle the debt for less than what's owing), an appeal of the tax assessment, an application to Canada Revenue Agency to reduce the taxes under a hardship (Fairness) application, keeping the condo and using the equity to settle the debts or other solutions. You should act soon - Canada Revenue Agency may register a charge against the Condo which is similar to a mortgage. I'll give you a call to discuss. Judy Scott Meyers Norris Penny Limited 604-949-2100 [email protected]
2025-09-04
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
2025-09-02
Lifestyle Debt Debt Solutions
You already know the many benefits of skilled money management. The fact you’re reading this blog post says at least that much. Your challenge, like for most households, is how to navigate the seemingly infinite demands on your frustratingly finite income.
2025-09-02
Lifestyle Debt
Have fun on a budget with our guide to affordable activities in Atlantic Canada.