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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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Wage Garnishments

I currently have a garnishment on my bank account and my wages at my primary job. For a few reasons, I have decided that I will be filing for bankruptcy early in 2007 and so can’t stop the garnishment. I am currently residing in Ontario, but plan to relocate to Alberta by this summer with my children. What I want to know is if the garnishment on my wages is going to follow me and if I can safely open a new bank account in Albeta without worrying about the account being frozen. Also, is the procedure for filing bankruptcy the same across Canada because I am already familiar with the process in Ontario?

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One Response to “Wage Garnishments”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

Technically the wage garnishment can follow you anywhere in Canada. The only trick is that it may take some time for the existing creditors to recognize that you have moved and find out where you have moved to. As for the process for filing a bankruptcy, it is essentially the same across Canada, with the major difference being the available exemptions (or property that is protected when one files a bankrutpcy). The exemptions fluctuate across Canada based on provincial legislation. Further details of the respective exemptions are available at Alberta Exemptions or Ontario Exemptions. The biggest difference is with respect to equity allowable in a principle residence. In Alberta a bankrupt is provided with up to a $40,000 exemption for your principle residence, which contrasts with Ontario where there is no personal residence provision.