Does this sound like you?
For the past 3 years Larry Blackburn has been self employed, providing construction services to his clients. But lately, Larry has let his finances get out of control. He has been unable to pay his taxes, and many of his clients have been left with half-finished projects. Larry feels terrible for the people that he has let down. What can he do to put his life back together?
What can you do?
When you get behind on your taxes it is extremely hard to get back on track. If possible, you can attempt to work out a payment plan with Revenue Canada. This would give you an extended amount of time to pay back your debts with them. You could also consider filing a formal consumer proposal with Revenue Canada, and any other people you owe. If neither of these options seems feasible, you may need to file for bankruptcy. For more information on available options, click here.
