I have heard that CRA often opposes a discharge if they are owed any money in a bankruptcy. Is this true? I need to file bankruptcy, I have about $45k in debt, of which CRA is owed about 2k. Do I need to be concerned?
While it is correct that CRA (Canada Revenue Agency) is one of the creditors more likely to oppose a discharge, this is normally not done when their claim represents such a small proportion of overall unsecured debt. The likelihood of an opposition becomes more significant where the CRA debt is substantially the driving cause behind the bankruptcy and even greater when there is a history of not only paying the debts in question, but failure to comply with the proper filing of the necessary returns.
1 Comments:
At 8:30 AM,
Barton Goth, GCO Inc. Bankruptcy Trustees said…
Post a Comment
<< Bankruptcy Alberta