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]
2025-04-25
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.
