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garnish

We are thinking about filing CP and we will stop making minimum payments- Can you please expalian the process of garnishment and how long it takes for a creditor to garnish wahes?
Thank you

Posted from: Ontario

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One Response to “garnish”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

The garnishment process is fairly simple. Any of your unsecured creditors can garnish, but to do so they first have to go to court. But estimating a time frame for them to go to court is a different story. In most places in Canada they have to give you at least 10 days notice of a court application, but you also have to consider how busy the court system is in that current area and how quickly will the creditor in question pursue court action. Some creditors go immediately, but most will try and work with you for 3 or 4 months before they consider the garnishment. So it is difficult to estimate a time frame. My recommendation is don’t stop making payments until you decide that the consumer proposal is the way to go. Then once you decide submit your application form with your trustee right away. If you do that you never have to worry about the creditors starting a garnishee as your proposal will be done well before they begin down that road.