What happens if I don't pay my Tax Debt?
If you don't pay your tax debt, interest will accrue every month.
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CRA may also take the following actions:
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Offset future tax refunds
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Garnish your wages
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Place lien on your home
What is Tax Debt?
Tax debt is any amounts owed to the Canada Revenue Agency and can include:
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Personal taxes
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HST
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Employment insurance overpayment
How can I pay off my Tax Debt?
Repay your debts in full
Use savings or obtain a loan to pay off​ CRA
Repayment Plan
Speak with CRA towards agreeing on a repayment plan
Consumer Proposal or Bankruptcy
Tax debt is included in a consumer proposal and bankruptcy along with other unsecured debts
TESIMONIALS
Litvack Group has helped and guided me in narrowing down my big responsibilities in paying my debt. They are angels without wings. Truly happy with their support and continued guidance.
Lilibeth N.
Litvack Group was very helpful in pointing me in the right direction I needed and has taken a lot of stress off me mentally.
David M.
DEBTS WE CAN HELP
Credit Cards
Bank Loans
Student Loans
Payday Loans
Tax debt
Garnishments
SUCESS STORIES
Susan A. reduced her credit card, lines of credit and payday loan debts from $50,000 to $15,000!
Chris S. reduced his tax debts from $174,000 to $60,000!
Emily C. reduced their credit card and student loan debts from $28,000 to $8,000!
CREATE TAX FAQs
How fast can my wage garnishment be stopped? Immediately! Once you file a consumer proposal or bankruptcy, the LIT will immediately notify your employer to stop garnishing your wages.
What happens to my wages that have already been garnished? Unfortunately, all wages that have been garnished will stay with the creditor who filed the garnishment.
Can I be garnished if I'm self-employed? While it is more difficult for creditors to garnish wages if you are self-employed they can still try to your garnish your bank account.
Reducing Your Financial Stress
Litvack Group Inc. | Licensed Insolvency Trustee
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