I have a secured personal bank loan with a balance of $17,000 and not in arrears, my car is leased with 7 months remaining and not in arrears, I have a $2000 loan with a finance company, not in arrears. I am barely scraping by and have recently been assessed by CCRA for $20,000 in back taxes (3 years) I applied and was accepted into the Voluntary Disclosure Program and have not yet contacted CCRA to arrange a payment plan. I have a job, but only make $30,000 currently. This tax debt was incurred due to former employer paying me as a "contractor" and not an "employee" as defined by CCRA (not sure if that is relevant)What advice do you have for this situation. Thanks in advance.

You can include CRA debt in a bankruptcy. Depending on the type of secured loans you have and the value of the asset, you may also want to return the security and the deficiency would also fall into a bankruptcy.

Shane Brenneis
phone: (403) 296-2975
sbrenneis