October 19, 2023
This predicament resulted in his account being placed into collections status with a collections officer pursuing him for payment by all means possible.
Stepping in to assist John, our team conducted a comprehensive review of John’s financial situation with the objective of formulating a formal proposal for repayment to the CRA that could offer a sustainable resolution. A key element of this proposal involved leveraging his registered LIF account as collateral. With our proposal in hand, we engaged with the collections officer, presenting the comprehensive plan and commencing negotiations to refine the terms of the arrangement.
The outcome was successful, and we were able to secure an extended 48-month repayment timeline for John. This extension not only provided him with the practical means to settle his obligations but also lessened the stress of the frequent calls from the collections officer and the scrutiny of his financial affairs.
At Farber Tax, our core commitment revolves around advocating for taxpayers in scenarios like John’s. Our expertise lies in negotiating extended repayment plans that align with each individual’s unique financial circumstances and ability to pay. Recognizing that everyone faces distinct personal challenges, we prioritize exhaustively exploring all possible avenues and ensuring that your interaction with the Canada Revenue Agency is based on a thorough comprehensive analysis of your situation. If your situation is similar to John’s, we can help.
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