If the Trustee has not been discharged yet, then you will have to paper-file your tax return. Once the Trustee is discharged you can e-file your returns again. You should contact the CRA and ensure they have your correct address and banking.

See FAQ 18

You may owe tax for the post-bankruptcy period, the part of the year after your date of bankruptcy up to December 31. If you owe tax for this period you are responsible for paying it.

Secured creditors (like vehicle finance companies) retain their rights under their contract, even after Bankruptcy or Proposal completion. If you fail to meet the contractual obligations, the creditor can repossess the collateral (i.e. car, ATV, Boat). In some provinces, the secured creditors can still collect from you for the deficiency, even after repossession. Ask your Trustee if this applies to you.

If you fail to pay your mortgage, your mortgage company can commence foreclosure proceedings, before, during or after Bankruptcy or a Proposal. If you are finished your Bankruptcy or Proposal and are concerned you are going to miss your mortgage payments you should contact your mortgage company immediately and try to negotiate with them.

If you are discharged from bankruptcy you are once again free to liquidate your assets. However, before cashing in your RRSP’s or other investments there are tax implications and lost future income to consider. It is recommended that you consult with a financial planner to determine the costs and benefits of doing this.

Buying a home is a major financial decision and should not be taken lightly. First you need to ensure your credit report is accurate and that you have savings for a down payment. Canada Mortgage and Housing Corporation has many resources available to help you with your home buying decision including a test to see if you are financially ready to buy a home. You may want to consider rent-to-own options in your community. There...