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I have filed 6 years of income tax and I have a bill about 50K
and that is not including 2003 as well as GST and 7K in child tax
benefits. Yes after filing my taxes 2 years ago they sent me a
check for 7,000 for back arrears in child tax benefits never paid
to me. Of course my husband and I were jumping for joy and we
spent it on things we hadn't done for a long time.
A few months later we got a letter saying they had made a
mistake and we owed it all back to them.I believe in total I
probably owe about 60,000 to Revenue Canada. I started a new
business a year and a half ago and I am only paid when a client
hires m e to do something so it is hard to determine at this
point exactly what I will be able to bring in consistently.
I went to see a trustee at Sands and Associates in Langley, she
seemed very nice and because I don't really have any assets to
speak of (we rent and my vehicle is not over 5000.00 and we own
it she suggested we go the bankruptcy route. My question to you
is my husband is not declaring bankruptcy will this affect his
work in anyway. Also do you know if I make any money how much am
I able to keep of it and how much will they take from me.
Do I need to see you first..........
Thanks
XXXXXXXXXX
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david ingram replies:
I usually always recommend Sands and Associates as a Trustee.
Earl Sands and now Gerry Foran at the downtown office and Geoff
Orrell at the Langley office have looked after many of my clients
and friends over the years.
However, nice as they are, they do NOT represent YOU after you
sign that piece of paper.
The bankruptcy Trustee works for the sole benefit of the
creditors and is in effect, a policeman standing over you
demanding a monthly accounting of everything you earn and spend.
Make too much (likely about $3,500 a month depending upon family
size) and you have to turn a significant portion over to the
trustee.
What you need is a advocate on your side.
The best one I know in Vancouver is Murray Morrison a lawyer at
200-10351 150th Street, Surrey, V3R 4B1 across from Guilford.
His phone number is (604) 930-9013 Fax is (604) 588-2005 and his
email is [email protected].
Contact him first before you sign anything and take your husband
(and kids) with you. I took my 11 and 16 year old kids with me
in my receivership and it was amazing how they got into the
process.
Seeing me would be fun but not very productive other than a
sympathetic shoulder.
You can keep up to $5,000 equity in a car, $12,000 equity in a
house, $5,000 of tools and $5,000 or so of household furnishings
in your name and some other stuff as well up to a combined total
of about $32,000 in the lower mainland.
Your husband can keep whatever is his.
Anyway, see Murray first, THEN trot off to Sands and sign the
papers.
Answers to this and other similar questions can be obtained free
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