Tag Archives: debt consolidation

Consumer Proposals and the CRA

Consumer Proposals and the CRA

Consumer Proposals and the CRA You may be able to settle your tax debt with the Canada Revenue Agency (“CRA”) by filing a Consumer Proposal; However Consumer Proposals and the CRA make for some unique requirements when combined.  For your consumer proposal to be accepted by the CRA you’ll need address the following issues. File All Outstanding Returns The first thing that you’ll need to do is file any outstanding returns.  This includes personal income tax as well as HST ...

Debt Consolidation Trustee in Bankruptcy

Debt Consolidation

By consolidating your debt you can lower your interest rate and make your monthly debt payments more affordable. For Example Taylor’s debts are listed below: Creditor Amount Owed Interest Rate Monthly Payment TD Visa  $  15,000 29%  $  476.13 PC Mastercard  $    7,500 25%  $  220.13 CIBC Line of Credit  $    5,000 19%  $  129.70 CRA Debt  $    5,000 12%  $  111.22 TOTAL  $  32,500 24%  $  937.19   She visits ABC Bank and obtains a single $32,500 consolidation ...

Know Your Options

A Trustee in Bankruptcy is a licensed professional specializing in debt just like a medical doctor is a licensed professional specializing in your health. After a doctor performs an examination they’re able to provide you with your options and recommend a course of action to solve your health problems. A Trustee in Bankruptcy does the same thing during your free initial consultation. He takes the time to understand the specifics of your financial situation while focusing on what you ...

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