How Do I Stop a Wage Garnishment in Scarborough?
Over the years one of the most common questions I am asked is: How Can I Stop a Wage Garnishment?
A creditor (the company you owe money to) issues a garnishee because they have not been paid, or they have been ignored, or you cannot arrange a satisfactory repayment arrangement with them. For banks and credit card companies issuing a garnishee is a last step because they are required to go to court, get a judgment and have the garnishee issued. The Ontario Wages Act usually keeps the rate of the garnishment to twenty per cent.
The best way to stop a bank or collection agency from garnisheeing your you wages is to be proactive. That means talking to the creditor prior to them getting to the point where they have no other choice but to put a wage garnishment into play. Often creditors take action because they do not know about what’s going on in
your life, except the fact that they are not being paid. They do not know about the layoff, or the sickness or the other circumstances that make paying the creditor impossible. If your circumstances change, contact your creditors and tell them. Don’t wait for them to call you after the account has become delinquent. The sooner you call, the more time you will have to work with your creditors.
How can we help?
If your creditors have a judgment against you and are going to garnishee your wages, there are only two ways to stop the garnishment: a consumer proposal or by filing personal bankruptcy.
To find out more, call us in Scarborough (or anywhere in Ontario) at 310-PLAN. or e-mail us today to arrange for your no charge intitial consultation.
In this article I have dealt with banks, credit card companies and collection agencies; next week I will talk about how to deal with the Government, a completely different kettle of fish.