2009-06-15
There are certain tax debts that the Directors of a company are personally liable for - GST and payroll deductions are the most common. So if the debt is one of those and if you were a director of the company, the government can indeed garnish your wages and take other collection action against you personally. In some circumstances, you can successfully defend yourself against being held personally liable for these debts, but we would need more information from you to be able to tell if this is even an option. If the debt is for corporate GST or payroll deductions, a bankruptcy would clean that up for you. You might also have other options that would work, such as a proposal to creditors or Fairness Legislation, or other things. I would need to know more about your financial situation to be able to see if these would work for you. If you'd like more information, feel free to give me a call. Judy Scott Meyers Norris Penny Limited 604-949-2100 [email protected]
2025-07-14
MNP Consumer Debt Index
Nearly half of Albertans (47%, +2 pts) report they are $200 or less away from financial insolvency each month — more than those in any other province — according to the latest MNP Consumer Debt Index.
2025-07-14
MNP Consumer Debt Index
Nearly two-thirds of Quebecers say they desperately need interest rates to go down (63%, -2 pts), according to the latest MNP Consumer Debt Index.
2025-07-14
MNP Consumer Debt Index
Younger adults and lower-income households are most likely to report stress, stalled life plans, and living paycheque to paycheque.
