"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.caFacebook: 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=caPhone: 306-310-DEBTEmail: [email protected] ARE SOME OTHER WAYS TO CONNECT WITH ME:My new website is now live!!! www.thetaxchick.ca Email: [email protected]: https://www.linkedin.com/in/amandasadoucette Instagram: https://www.instagram.com/tax.chick/ Be a "Tax Chick VIP": http://eepurl.com/hNbXcb

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