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	Podcast:		Debt Free in 30
	Episode:		605 – Owe CRA Tax Debt? The Biggest Loan Mistake Canadians Make
	Category:		Business
	Duration:		00:30:23
	Publish Date:		2026-04-04 09:55:00
	Description:		Owing money to the CRA can feel urgent, and taking out a loan might seem like the fastest way to fix it. But in many cases, it can make your situation worse. Doug Hoyes and Ted Michalos break down when borrowing to pay off tax debt might work, and when it creates bigger financial risk. From self-employed Canadians stuck in a cycle of owing taxes every year, to homeowners refinancing and increasing long-term pressure, this conversation walks through the real consequences of using a loan to solve CRA debt. You'll also learn: Why CRA debt feels more serious than other debt What steps to take before considering a loan How CRA payment plans work When a consumer proposal may be the better option If your tax bill feels overwhelming, this will help you understand your options and avoid common mistakes.
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