A requirement to pay is one of the most uncomfortable forms of debt collection you can receive.

A requirement to pay can be:

• Sent directly to your employer (as a wage garnishment) so your employer will have to send a portion of your paycheque directly to the CRA. This can be embarrassing as now your employer will know you owe a tax debt.
• Sent directly to your clients if you are self-employed or a sole proprietor. This is embarrassing and can also be damaging to your business if your clients switch to a competitor because they are worried about your financial situation.
• Sent directly to the bank so the funds will be taken out of your bank account. You will be in for a shock when you go to access your account and find less in there than you expected, which could put you into financial trouble in other areas of your life.

In any of these situations, a requirement to pay can make your life extremely uncomfortable at best, and at worst can result in long-lasting consequences that affect your reputation, finances, and livelihood.

The solution? Take action — fast.

Like any CRA collection action, a requirement to pay can be stopped by:

• Paying the tax debt in full — however, this may not be an option if you don’t have the money available.
• Filing for a consumer proposal or bankruptcy.
• Working with a tax debt counsellor, like DebtCare Canada.

The worst thing you can do is try to negotiate with the CRA yourself. At best, you will still have to pay the text debt in full and in a timely fashion, and at worst you may reveal information that allows the CRA to issue more requirements to pay.

The better option is to work with a debt counsellor. For instance, at DebtCare Canada we offer one of the only programs that resolves CRA back taxes, including stopping collection action in its tracks.

If you’ve received a requirement to pay from another creditor, we can help, too. We will work with you to stop the collection action as quickly as possible so you can avoid costly consequences — both financial and reputation-wise.

If you’ve received a requirement to pay, don’t wait. Act now.

Contact us for a free consultation. Call 1-888-890-0888 or visit www.debtcare.ca.