FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

This field is hidden when viewing the form

Source

How can we help you?

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Comments

This field is for validation purposes and should be left unchanged.

Select Trustee By Province

Can the creditors seize my monthly pension?

Being a 75-year-old senior and having a 312,000 secured debt and 109,000 unsecured credit cards, I have sold all assets to pay the secured debt. Having 109,000 unsecured debt I have decided to do nothing and take a wait and see approach. Can the creditors seize my monthly pension? I ask because that’s all I have.

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “Can the creditors seize my monthly pension?”

Desmond West-Chow, CIRP, Trustee said...

Creditors could seize your pension amounts through a garnishment depending upon how much you receive and what province you live in. Additionally, they could seize bank accounts, put liens on vehicles or homes as well. It would be a good idea to speak to a local trustee to really get a good grasp of your options based on provincial legislation and details about your situation.