FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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what happens with the government and you after absolute?

Can you tell me whether your file is closed with the government since all your unsecured debts have been eliminated? I was told that you no longer have anything to do with the government.

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One Response to “what happens with the government and you after absolute?”

A licensed trustee said...

I am not certain what you mean by “never have anything to do with the government”? I think someone has told you something that is wildly untrue.

Bankruptcy laws are designed to provide you with relief from your unsecured debts. Since many government debts are unsecured bankruptcy may provide you with relief from most government debts too.

Bankruptcy only protects you from debts that you owe on the date your bankruptcy starts. Any new debts you incur after your bankruptcy starts are debts you will have to repay.

For example, let’s say you owe $5,000 for last yeats income taxes and you filed bankruptcy on January 1 of this year. The bankruptcy should obsolve you from the requirement to pay last years taxes.

Since January you have been employed and earning income – you also should have been paying your taxes on that income. This is a debt incurred after your bankruptcy and therefore it must be paid.

I hope this addresses your question. If it doesn’t may I suggest you contact a trustee in your local area to discuss this matter over the phone.