Finished with the government – response to answer
I meant that once you have completed your Absolute, I realize that you have to pay taxes every year in which I do. I was just curious what the government does once the Absolute has gone through. Maybe that’s a better way of clarifying the question that I asked.
If you have unsecured debts to the government (income taxes, GST, RST, etc)they will be treated the same way as all of your other unsecured debts.
When you are discharged, (the technical term that means your bankruptcy has been completed), from your bankruptcy you will no longer be responsible for the unsecured debts that you owed when you filed bankruptcy. From your point of view, the debts are “gone”.
The fact that you filed bankruptcy will likely remain in your Canada Revenue Agency (formerly Revenue Canada) file forever. In that way, should you file bankruptcy again, the Agency may make an informed decision on whether or not to become more involved in your second bankruptcy.
If I haven’t adequately addressed your revised question then I suggest you contact a local trustee for a more precise explanation.
Good luck sorting out your financial difficulties.