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]
2025-04-25
Debt collection can be a daunting experience for many Canadians. Navigating the process alongside MNP’s team of experts can help you better understand how it will impact your credit score and gain the knowledge needed to maintain your financial health well into the future.
2025-04-25
Bankruptcy
Filing for Bankruptcy is a significant decision that can provide a fresh start for Canadians overwhelmed by debt. However, it’s essential to approach this process with caution and awareness to avoid common pitfalls and make informed decisions to protect your financial future.
2025-04-24
Filing a Consumer Proposal can feel overwhelming, but it’s not the end of your financial journey.
