If you have found this article, you probably know from firsthand experience what a wage garnishee is. If you need some clarification, please check here.
If you are facing a wage garnishee, or a wage garnishee has already started, you have the following options to stop it:
- Work out a deal with the creditor
- File a consumer proposal
- File for bankruptcy
A first step is trying to negotiate a settlement or a payment plan. If you are unable to reach an agreement on a deal with the creditor, you will likely have to file a consumer proposal or bankruptcy to stop a wage garnishee. It is important to understand that your creditors are not obligated to negotiate with you. In many cases, they may not even be interested in talking to you.
In Canada, you are protected by the laws of the Bankruptcy Insolvency Act when you file a consumer proposal or bankruptcy. In virtually all situations, your creditors no longer have the right to take anything from you.
Wage garnishees is a topic that I discuss and write about on a regular basis. Why is that? The biggest single reason is that with the global economic meltdown of the last few years, it has happened to a lot of people. Though there are some signs of recovery, Waterloo Region was hit harder than most. Many people are struggling under a mountain of debt that accumulated while they were out of work.
Having said all that, your focus has to be on the future. Where do you want to be in a year? Five years? Ten years? You can’t change the past and neither can I. My role is to help you develop a PLAN to build a brighter future for you and your family.
If you want to talk about a plan to stop a wage garnishment and deal with your debts, my advice is to give us a call at 310-PLAN (that’s 310-7526 with no area code required). We will take the time to understand your situation and review all of your options. We want you to make the best choice possible for your future.
To serve you better, Hoyes, Michalos & Associates Inc. has offices throughout southern Ontario, including Kitchener, Cambridge and Guelph.
A final word: I recently came across a Q&A forum dealing specifically with garnishee related issues. If you are concerned about a garnishment on your wages, you should consider checking it out. You might find answers to questions you haven’t even thought of asking yet.
Comments on this entry are closed.