Today was payday and I made the last payment on my CRA debt. I owed upwards of over $20,890 one year ago. Why? Because I listened to my money moron boyfriend at the time. He pressured me into opening up a trade name where we could write off expenses as “business expenses”. I knew it was wrong but did it anyway because I felt like I had no choice and I was being manipulated and emotionally abused. You can read more of the backstory here.
Of course, I got audited and put off paying off the debt for years and consequently, interest accrued at 5%. I made interest only payments for years and the balance remained the same. It wasn’t until I got a threatening letter from CRA that my ears perked up. I called my case manager and expected to be berated but she was the most lovely person to deal with. I wish I had called her sooner to deal with my problem head on instead of being an ostrich. I told her my absolute maximum I could contribute per month which at the time was $1300 but I put an average of $1667 per month onto the debt.
I feel somewhat free now. Now I can re-direct money that would have gone to the CRA debt onto my consumer debt.