How to Stop CRA Garnishment After Receiving an RTP Demand Payment Letter

Ever felt the stress of unexpected financial setbacks? How to stop CRA garnishment is a question many Canadians face when dealing with debt issues and a RTP (Requirement To Pay) from the Government of Canada. Understanding the steps to halt this process can alleviate a significant amount of stress and help you regain control over […]

How Many Times Can You Do A Consumer Proposal

Ever felt like you’re stuck in a financial maze with no exit in sight? Debt can weigh you down, making every day feel like an uphill battle. But what if there’s a way to reset and start fresh? How many times can you do a consumer proposal? The straightforward answer is that you can file […]

Who Can Put a Lien on Your House in Canada?

Liens can significantly impact property ownership in Canada, often catching homeowners off guard. Understanding liens—what they are, the types that exist, and who can place them on your property—is crucial for any homeowner. This article unpacks the complexities of liens, explores potential lien holders, and discusses the consequences they can have on property sales. It […]

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If I don’t declare bankruptcy what happens?

If I don’t declare bankruptcy. I am 61 CPP of $500.00 per month other income part time $600.00 per month no assets and unsecured debt for 4 years $30,000. They call about every 6 months. I don’t need credit and unable to pay. Can I keep on not paying?I tried to get a loan but was declined . Why Visa gave me so much credit is crazy . I only had $20,000 income per year. If I don’t declare bankruptcy what happens? Thank you

Posted from: British Columbia

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One Response to “If I don’t declare bankruptcy what happens?”

A licensed trustee on behalf of Bankruptcy Canada said...

The only risk you run is that someone takes you to Court and they get an Order that lets them garnishee (take money) from your pay cheque at the part-time job. Likely they’d get between $100 and $150 a month. Of course if that happens, you could quit the job or file bankruptcy to deal with the garnishee.

Frankly, you are probably ok to do nothing and see what happens…