You cannot stop a wage garnishment yourself, except by paying the debt(s) in full.
Stopping wage garnishments can be done by:
You cannot stop a wage garnishment yourself, except by paying the debt(s) in full.
Stopping wage garnishments can be done by:
Consumer proposals or filing for bankruptcy provide a stay of proceedings. A stay of proceedings means that creditor actions including wage garnishments are stopped.
Our trustee’s can stop your wage garnishment with a consumer proposal or even through a bankruptcy.
We can explain how these 2 options can stop the garnishment.
Garnishments are a legal process to collect money (for money owed or a court judgement) by a creditor, against a person who owes money.
In Canada a garnishment usually means a wage garnishment. In a wage garnishment, the creditor is trying to take a portion your wages either through your employer or your bank.
Paul’s paycheque never seemed to cover all his expenses.
His credit card debt has grown to the point where he’s been unable to pay the bill.
Now after 3 months of not paying, he has received a Garnishment Order notice at work that his pay is going to be garnished. Where he was receiving $1250 every two weeks, the wage garnishment is going to take $250 dollars each pay until the debt is paid, 20%.
Paul realizes that he has to address his debt, and on advice contacts YanchDey. The trustee explains to Paul that since he has a good job he can do a consumer proposal, and stop the garnishment. As well Paul learns that the consumer proposal will drop his debt from $20,000 to 6,000, reducing his monthly payment down to $100 per month.
Where your being garnished at your bank. The creditor has gone to court and gotten a judge’s order for payment for a garnishment.
The creditor can then take the garnishment order to your bank. The bank is required by law to send the garnished wages to the creditor until the amount owing is paid in full.
You cannot stop a wage garnishment yourself. The only way to stop a garnishment is through a licensed insolvency trustee by filing a consumer proposal, filing for bankruptcy or paying the debt in full.
Call us today at 905-721-7506 and we’ll stop the garnishment for you.
★★★★★ YanchDey stopped the garnishment even before payment was taken, and saved me over $10,000. Thank you everyone at the Oshawa office, you changed my life! Rocco S. Toronto
In Ontario, creditors like banks and credit card companies can usually take 20% of your net wages through a garnishment.
Where the garnishment is for taxes or family support payment the wage garnishment can be up to fifty (50) percent.
The maximum that can be deducted as a result of child support is fifty (50) percent.
The government can issue a “Requirement to Pay” to third parties like your employer, your bank or to contractors who owe you money, rather than a wage garnishment.
Those third parties must then pay the amounts directly to Canada Revenue Agency rather than to you.
The government can ask for 100% of the funds, meaning if you have money coming from other sources, they can take all of these monies through a garnishment, leaving you nothing.
Once filed, the trustee will notify your creditors that they must stop any:
Deductions for child support or alimony will continue and cannot be stopped where a garnishee has been put in place. A consumer proposal or bankruptcy will stop the garnishment even if it’s already started.
Typically a wage garnishment does not allow creditors to seize your:
Where you have been sued and there is a court order the creditor receives a judgement order from the court, except for these types of income.
The creditor with a court ordered garnishment, can have the money taken out of your bank account, even if those funds represent pension income.
Canada Revenue Agency or the Family Responsibility Office are allowed to seize a portion of income from pensions, disability, or social assistance.
The Canada Revenue Agency does not have to get a court order for a wage garnishment. Where your looking to stop a wage garnishment, by the government a trustee can have the garnishment rescinded and reduce the total amount you owe.
Taxes owed are usually considered as unsecured credit and are able to be discharged in a bankruptcy with exceptions.
The exceptions are;
In bankruptcy where the bankrupt reaches these thresholds to stop a wage garnishment the matter must be brought before a judge.
The judge will decide upon the conditions for the debt before it may be discharged, which may included making some payments.
Where there are taxes owed, a lien can be registered on property held or placed on your home. Once a lien is registered on property it becomes a secured debt.
When a lien has been placed on your home it means that the lien cannot be discharged through bankruptcy. The bankrupt must either sell the home or make the payments, as if a mortgage has been placed upon the home.
While there is outstanding taxes owing the CRA can withhold payments for:
Where you believe that you have outstanding taxes owing and you own property it is very important that you contact our offices to discuss your situation BEFORE a lien is registered.
Wikipedia defines Garnishment as: a legal process for collecting a monetary judgment on behalf of a plaintiff from a defendant.
Wage Garnishments allow the plaintiff (normally called the “garnishor”) to take the money or property from the person that holds that property (the “garnishee”) or loan.
Looking to stop a garnishment? Call and to speak to myself or one of our insolvency trustees.
We’re happy to speak over the phone or in-person at one of our offices. Where you have questions or need some advice, there is no cost or obligation.
Call us today at 905-721-7506.
Canadian Association of Insolvency and Restructuring Professionals
Pauline Vorvis
3 days ago
★★★★★ We had 23,000 in credit card debt that I was never going to pay off, I called and they got it dropped to 7,000 to pay $195 over three years, the payments are less than I was paying before, Thank you so much.
Randy Singh
7 days ago
★★★★★ My husband’s paycheck was garnisheed, we owed 36 thousand, Yanchdey stopped the garnishment, and reduced our debt to 10,000. So thankful we called, if your in debt give them a call!
Debbie Theriault
2 weeks ago
★★★★★ A judgement was filed against me, then I received the letter for the garnishment, I knew it was time to look for debt help, on advice from a friend I went and spoke to Yanchdey. They were non judgemental and explained how they could stop the garnishment and save me thousands. My life has changed dramatically, I can sleep and now have control of my finances. I even appreciated the debt counselling sessions which will go a long way to help me now and in the future. God bless
Susan Solomon
3 weeks ago
★★★★★ We never thought we’d be in debt in our 60’s and it just seemed to keep growing. Then the bank called to tell us about the garnishee. I knew we needed help and YanchDey was great. The garnishment was stopped. If you’re thinking about how to get out of debt give them a call, I’m glad we did!
Christien Egistone
4 weeks ago
★★★★★ Thank you to all, they were taking over $400 per month from our bank in a garnishment, we couldn’t afford it and were panicking. I found Kelly online, they had a local office and fixed our problems so fast. I’ll never have credit card debt like that again, I appreciate your kind and compassionate help and will refer and recommend friends.
Jason Backstern
1 month ago
★★★★★ I called for help with garnishment expecting the worst. Brenda was patient and explained how there were options. She showed me how she could stop the garnishment and even save money! Saved 19 thousand and my pay was restored, will be out of debt in 5 years! Many thanks.
Danny Demers
1 month ago
★★★★★ Stopped the wage garnishment and reduced my debt $22,000. If your in debt give them a call, you’ll be happy you did!
Steve Parker
5 weeks ago
★★★★★ My credit cards were maxed out, I was horribly in debt and the phone rang all the time with debt collectors. Then came the garnishment, things looked bad. If you’re in a situation like I was with credit give them a call, you’ll be happy you did.
Jeff Dailey
2 months ago
★★★★★ Yanch Dey stopped the judgement and wage garnishment and saved me $9,000, best call I could of made, I’d give them 10 stars if I could!