Episode Details

"Who cares if I owe a lot of money to CRA?  I can just go bankrupt!"

I have heard this statement quite a few times in my career... but unfortunately, there are a lot of misconceptions about bankruptcy, and in particular the interception of bankruptcy and tax debt.  Now that CRA has ramped up their collections action again, I thought it might be an appropriate time to bring on an expert to help chat about these topics.  My special guest, Michelle Scheller, is a licensed insolvency trustee with MNP Ltd., and I have referred a number of clients to her team in the past to help with particularly "sticky" CRA collections issues.  Michelle and I chat about the following:

• What is a licensed insolvency trustee? (4:40)
• What does it mean to "go bankrupt" or "be insolvent"? (5:05)
• What is a proposal versus a bankruptcy? (10:05)
• What are the special rules that apply when you have a "tax driven" bankruptcy? (16:35)
• What are the first steps you should take if you think you need help? (21:30)

ADDITIONAL RESOURCES:

• Website: www.MNPdebt.ca
• Facebook: https://www.facebook.com/MNPDebt 
• Instagram: https://www.instagram.com/mnpdebt/?hl=en 
• Twitter: https://twitter.com/mnpdebt 
• Spotify: https://open.spotify.com/show/76ImfFsv1VxIilxDy5zomU?si=c32ecb7aac4e46ee  
• YouTube: https://youtube.com/@MnpdebtCanada 

CONNECT WITH MICHELLE:

• LinkedIn: https://www.linkedin.com/in/michelle-scheller/?originalSubdomain=ca
• Phone: 306-310-DEBT
• Email: Michelle.Scheller@mnp.ca

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

• My new website is now live!!!  www.thetaxchick.ca 
• Email: thetaxchickpodcast@gmail.com
• LinkedIn: https://www.linkedin.com/in/amandasadoucette   
• Instagram: https://www.instagram.com/tax.chick/ 
• Be a "Tax Chick VIP": http://eepurl.com/hNbXcb