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How to Rebuild Your Credit Blog Series – Part 1 Too Many Applications for Credit

mgoldenberg@debtcare.ca July 4, 2012 No Comments

This is the first part of a four part blog series about how to rebuild your credit. Many people don’t realize how important credit is until it is damaged. Once credit is damaged, it takes a long time to rebuild, and if you want to know how to rebuild your credit the first thing you will need to know is what is in your credit report. If you want to

Canada Revenue Agency Forms and Requests: – Beware

mgoldenberg@debtcare.ca June 25, 2012 No Comments

If you have a tax debt that you cannot pay in full, you should be very careful dealing directly with the Canada Revenue Agency (CRA). In fact, many agencies, including law firms, advise people who have large tax debts not to deal with the Canada Revenue Agency directly. Why? Because CRA agents are hired by the government to collect the tax debt from you. Their primary objective is to close

How to Make a Credit Card Debt Settlement

mgoldenberg@debtcare.ca June 19, 2012 No Comments

When credit card debt begins to build up it can become very difficult to pay off. Credit cards bear monthly compound interest so if you get into a routine of making minimum monthly payments, the interest can sometimes be as much as the payment that you make. The end result is that you make a minimum payment and then once the interest is applied to the balance, you end up

The Canada Revenue Agency Consequences of Missing the Income Tax Deadline

mgoldenberg@debtcare.ca June 12, 2012 No Comments

In Canada, this year’s Canada Revenue Agency (CRA) income tax deadline was April 30th, 2012. The CRA’s income tax deadline is the last date that individual Canadian taxpayers can file their annual income tax returns with the CRA without incurring penalties and interest. Corporations are not subject to this deadline and have their own year-end filing dates. If you file your income tax return after the income tax deadline of

Canada Revenue Agency Collections Authority and How to Stop Them

mgoldenberg@debtcare.ca May 22, 2012 No Comments

Thousands of Canadians owe money to the Canada Revenue Agency. Thousands more will fall behind filing their tax returns, hoping that by not filing their returns they can buy time to come up with a way to pay the tax that they know they will owe. What many people don’t realize is that whether you file or not, the Canada Revenue Agency can still take collection action against you if

Sued in the Small Claims Court? What Happens Next?

mgoldenberg@debtcare.ca May 15, 2012 No Comments

There are over 90,000 new Small Claims Court Actions filed in Ontario each year and more than 150,000 Small Claims Court actions filed throughout Canada. Small Claims Court actions are usually filed by creditors like banks, finance companies and the collection agencies who represent them. Court Actions are also filed by individuals and businesses who are suing one another for a particular incident or contract dispute. In most Provinces including

CRA “Requirement to Pay Issued” – What is it and what can you do?

mgoldenberg@debtcare.ca May 8, 2012 No Comments

If you owe money to the Canada Revenue Agency they have many resources at their disposal to collect the money from you. One very common resource that they deploy is called a “Requirement to Pay.” A CRA “Requirement to Pay” is a document that the Canada Revenue Agency will send to a third party, like a bank requiring them to remit to the Canada Revenue Agency any funds that you

Stopping a Garnishment of Wages in Canada

mgoldenberg@debtcare.ca May 1, 2012 No Comments

Thousands of Canadians have their wages garnished each year for a wide range of reasons. A garnishment of wages in Canada can occur as a result of unpaid family responsibility, judgements that occurred as a result lawsuits (in Small Claims Court or Superior Court) or as a result of debt owed to the government. The most common government debt that results in a garnishment of wages in Canada is a

Dealing with Debt Part 4 – Income Tax Debt in Canada

mgoldenberg@debtcare.ca April 24, 2012 No Comments

Many, many Canadians struggle with income tax debt in Canada. Income tax debt in Canada can occur for many reasons, many of which were not intentional on the part of the taxpayer. Sometimes a taxpayer earns more than he or she expects, not realizing the tax implication. Other times taxpayers unwittingly declare expenses they are not entitled to. Once a tax return is filed later or re-assessed resulting in an

Dealing with Debt Part 3 – Divorce Debt in Canada

mgoldenberg@debtcare.ca April 17, 2012 No Comments

Canada has the 8th highest divorce rate in the world. Human Resources Development Canada has reported that the proportion of marriages expected to end in divorce has fluctuated between 35% and 42% in recent years. In 2008, 40.7% of marriages were expected to end in divorce before the 30th wedding anniversary. In 2008, there were 70,226 divorces in Canada or 2.11 divorces per 1,000 people. Divorce debt in Canada is

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