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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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senior citizen + bankruptcy

I am a 65 year old woman living on a pension of $1100 per month. I am considering bankruptcy.I have approx. $20,000 in credit card debt. Which was used mainly for living expenses over the past 6-8 years.My son was making most of the payments for me to help out . He is now in a financial crisis and can no longer help me. I live with my other son and split the rent with him . I am up to date now but I am frightened that I won’t be able to pay. I have zero assets but for clothes and several household items. Can the credit card company take my canada pension from me? I am frightened that i won’t have food or a place to live . I have contempted suicide several times and am besides myself.

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One Response to “senior citizen + bankruptcy”

A licensed trustee said...

It is virtually impossible for the credit card company to directly take your Canada Pension from you. They can easily garnishee wages, but there is no easy method to garnishee government pensions.

A bankruptcy may be an option, but there may be other options as well.

Since this is obviously causing you a great deal of stress, I strongly recommend that you contact a licensed trustee; they will meet with you personally and explain your options, so that you can decide what actions you take to deal with your debts.