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Here are some common beliefs about tax debt and what the real story is: COMMON BELIEF: Bankruptcy law in Canada does not cover personal income tax- it can’t be “included.” CLARIFICATION: Personal income tax debt (the one we are most familiar with!) is typically an unsecured debt in a proposal or a bankruptcy and has…

All of the following are true (not false)! 1//You normally will  NOT lose your house and you will NOT lose your car-  if the following applies: – real property is usually mortgaged which means that you must continue to make the mortgage payments  to keep your home- an arrangement between you and the lender- if there is…