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Book an Appointment

Is it time for us to meet?

If you’re thinking about booking an appointment, then you’ve already taken the first step by deciding you need help or advice with your personal or corporate debt. That’s often the most difficult step. We understand and we’re here to help.

The sooner we meet, the greater the likelihood of a positive outcome. Call our toll free number, call the number of the office closest to you, or send us an email by filling in the form below.

We’re looking forward to taking the stress off your shoulders and helping you live life again.

1.877.944.1177








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    Our Process

    You’ve made the difficult decision to explore personal or corporate debt restructuring and now you’re wondering, “What happens next?”

    First, let us say congratulations. It isn’t always easy deciding that you need assistance, but it’s more common than you know and the earlier you start, the better the chance for a positive outcome.

    Next, understand that we want to make the entire process as easy and positive as possible. We will never judge or pressure you; we are only here to help.

    Our process begins with information gathering. We have a responsibility to collect as many details about your financial situation as possible so we know exactly what we’re dealing with.

    After we have collected the information, our team, including a Licensed Insolvency Trustee, will determine the most advantageous option and present it to you, carefully explaining all of the pros and cons.

    After that, you are certainly welcome to take the information home and think about it to see if you have any further questions.

    When you make the decision to proceed, our experts do the heavy lifting and work with you, side by side, until the project is completed.

    Our process ends when your brighter days begin.

    Can CRA Debt Be Dealt With In A Bankruptcy?

    Someone told me recently that he thought CRA debt could not be dealt with in a bankruptcy. Apparently, someone had told him it was not possible to write off tax debt through bankruptcy proceedings.

    This is not true. Just like a Visa bill, an American Express debt or a Mastercard obligation, CRA debt is dealt with in the bankruptcy proceedings and can be written off.

    When a person files an assignment in bankruptcy, creditors, including the CRA, are prohibited from attempting to collect their debt from the person that filed the Assignment into bankruptcy. CRA, and all other unsecured creditors, must communicate through the trustee and may not contact the debtor. That’s the law. It is a violation of the Bankruptcy Insolvency Act law to contact the person that filed the Assignment into Bankruptcy with the intention of collecting a debt owed.

    At times, a person’s obligations to the CRA are insurmountable due to neglect, unfortunate circumstances, or unfair tax rulings. When the CRA obligation cannot reasonably be repaid, the interest and penalties will grow over time and often double the tax obligation.

    As I’ve mentioned, there are a number of reasons that can cause personal income tax debt to become insurmountable. Nobody wants that to happen, but if it does, that obligation can be dealt with through the bankruptcy process. Upon discharge of the person filing the Assignment into bankruptcy, personal income tax debt will be declared as equal to zero by the courts.

    The rules around income tax are complex and prone to change. If you have CRA related questions, talk to an expert – a Licensed Insolvency Trustee will have the accurate answers you are looking for.

    Dan Faber Bankruptcy ProfessionalDan Faber, CPA, CA, CIRP, LIT
    Dan Faber is the co-founder and Executive Director of Faber Inc. Dan is a Chartered Accountant (CA), Chartered Insolvency and Restructuring Professional (CIRP) and Licensed Insolvency Trustee. Dan has over two decades of experience in providing consumer and corporate insolvency and restructuring services throughout an extensive range of industries.

    Our Process

    You’ve made the difficult decision to explore personal or corporate debt restructuring and now you’re wondering, “What happens next?”

    First, let us say congratulations. It isn’t always easy deciding that you need assistance, but it’s more common than you know and the earlier you start, the better the chance for a positive outcome.

    Next, understand that we want to make the entire process as easy and positive as possible. We will never judge or pressure you; we are only here to help.

    Our process begins with information gathering. We have a responsibility to collect as many details about your financial situation as possible so we know exactly what we’re dealing with.

    After we have collected the information, our team, including a Licensed Insolvency Trustee, will determine the most advantageous option and present it to you, carefully explaining all of the pros and cons.

    After that, you are certainly welcome to take the information home and think about it to see if you have any further questions.

    When you make the decision to proceed, our experts do the heavy lifting and work with you, side by side, until the project is completed.

    Our process ends when your brighter days begin.

    Book an Appointment

    Is it time for us to meet?

    If you’re thinking about booking an appointment, then you’ve already taken the first step by deciding you need help or advice with your personal or corporate debt. That’s often the most difficult step. We understand and we’re here to help.

    The sooner we meet, the greater the likelihood of a positive outcome. Call our toll free number, call the number of the office closest to you, or send us an email by filling in the form below.

    We’re looking forward to taking the stress off your shoulders and helping you live life again.

    1.877.944.1177








      This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.