Seniors and Bankruptcy

September 7th, 2006 by Questions

Can Canada Pension Plan and Old Age Security benefits be garnished or are they exempt from from the bankruptcy process?

Questions

One Response to “Seniors and Bankruptcy”



September 08, 2006 at 12:58 pm, A licensed trustee said:

Pensions may not be garnisheed, but they are included as part of your income if you file an assignment in bankruptcy. That means that no one can force you to make your payments, but the amount of your pension will affect how much you are required to pay if you file bankruptcy.

If you think you need to file, use the links on th side of the page to find a trustee near you to discuss this in detail before you commit to anything.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)