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Tom B.
Tom B., Barrister & Solicitor
Category: Canada Law
Satisfied Customers: 2263
Experience:  25 years in practice
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I've recently moved to the U.S. (July 2014) and working on a

Customer Question

I've recently moved to the U.S. (July 2014) and working on a TN Visa. I am now a non-resident and I have no plans to return to Canada. I am also completing a divorce settlement. My ex-wife lives in the Caribbean. I've discovered that my accountant, who has retired, made some major mistakes in my accounting for tax purposes to the amount of around $150,000. This may be as high as $250,000 when 2014 and 2015 is completed. CRA has since seized my cottage in Quebec, to hold back on these taxes.
My question, since a divorce can greatly reduce your net worth, what are the implications if I declare a personal bankruptcy. Can I do this if I now live in the U.S.? Can CRA take any action against me here in the U.S.? How does this affect my credit score in the United States if I am basically starting all over again.
Submitted: 1 year ago.
Category: Canada Law
Expert:  Debra replied 1 year ago.

Are you saying you may owe more than the cottage is worth?

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