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Garnishment or wage garnishment is a process of legally withholding a portion of your money from your paycheque and sent to a third party.
As a debt relief provider, we are consistently asked by clients who have questions about wage garnishment. Read this article to have a full understanding of how wage garnishment works in Canada and what you can do to stop it.
Know more about us and what we can do by clicking on the button below…
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Also referred to as wage assignment or attachment, wage garnishment is a legal court action or order that allows creditors to collect money from debtors by seizing part of their income.
The amount of salary that can be garnished can depend on the province.
Additionally, creditors may also be able to collect money by seizing from the following sources of income including:
Wage garnishment can be undertaken by any lender as long as they follow the necessary process.
Wage garnishment doesn’t happen overnight, creditors can’t just simply start taking money from your income.
1. Before a Creditor garnishes your wages, they will need two court orders. The first order is a “court judgment” that you owe the creditor the debt. This is also called a payment order.
2. The next step is for the Creditor to get a garnishing order which will require a third party (your employer) to make payments to the creditor. This will be a repeated process every pay period until the debt is paid.
3. Your employer’s payroll department will receive the garnishing order from the court directing them to withhold the portion of your salary and remit it to the court. This is the moment you just learn that wage garnishment is starting and you have little time to react.
4. The creditor will then apply to the court to receive your money being held there from your salary.
If you are a self-employed individual, you can receive wage garnishment. Instead of sending wage garnishment to the employer, the court may instead send the order to your client directly.
Unlike other creditors, Canada Revenue Agency is a powerful government agency that can collect money from your employer without a court judgment or court order.
CRA can send notice to your client or employer without obtaining a court order to start a wage garnishment. The money you owe to CRA will not be withheld in court, rather it will be sent directly to CRA by your employer.
A notice to pay or requirement to pay issued by Canada Revenue Agency may be applied to your earnings, including salaries, bonuses, allowances, and other payment types in respect to your service.
You have 3 options to stop wage garnishment, depending on the situation – your options will vary.
1. Appeal to the court to set aside court judgment and garnishing order if you can prove that it is causing you severe financial hardship.
2. Renegotiating a payment arrangement with your creditor.
3. Applying for the Debt Consolidation Program. (Best Option)
If you have over $10,000 worth of debt and experiencing wage garnishment, don’t panic – there is a solution. We are Canada’s trusted partner in debt and hardship relief. We helped thousands of Canadians get out of debt and get rid of wage garnishment.
We provide 100% free consultation, no risk, no obligation, and no commitments. This can be done in the safety of your home via zoom or phone call.
With our government-approved debt consolidation program, you can stop wage garnishment including collection activities performed by CRA. It will also help stop interests, collection calls, and asset seizure. Our team of friendly debt consultants will help you create a personalized debt savings plan that can eliminate or reduce debt by up to 50%-75%.
Learn more about the best experiences and reviews from our clients at this link.
Stop wage garnishment now by clicking on the below button.
To know more what you can benefit from our Ontario Debt Relief Program, simply try our Debt Consolidation Calculator below and one of our debt specialists will get in touch with you and provide you the best debt relief option that fits your situation.
No contact details required to find out if you qualify
We will help you reduce as much as 75% of your debts and consolidate it into a single affordable monthly payment. Your creditors will stop harassing you and all interest will freeze if you get into our Ontario Government Debt Relief Program.
Many Ontarians are already benefiting from our Debt Relief Program, YOU should too!
Find out how much you can write off portion of your debts by getting your Free Savings Estimate below. A debt specialist from National Debt Relief Services in Ontario will discuss all options and provide you tailor-fitted Debt Relief Program.
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A Debt Consolidation is a negotiated debt settlement offer made between you and your creditors with the help of a Debt Relief Agency in Ontario. Some key benefits of Debt Consolidation are interest-free program, no upfront fee required, combined monthly payment into one affordable amount, no lawsuits, and many more.
Yes, your assets are safe from creditors. A licensed debt relief agency in Ontario will help you come up with an offer to your creditors that will make sure your assets will be out of the paper.
No, in fact, this is one of the great advantages of a Debt Consolidation Program. All wage garnishment will stop from the day you filed the proposal.
The effect on your credit score is not going to be severe. Your credit score will most probably go to R7 Rating and will remain in your credit report for another 3 years after you completed the program. This means that it will not be permanent and you will still be able to rebuild your credit score.
This varies depending on the proposal you will be discussing with the help of a certified debt relief agency. It is also worth noting that debt consolidation cannot exceed more than 5 years.
If a debt is shared, you need to file a joint debt consolidation offer to your creditors. However, in most cases, in which the debts are individually incurred will have no impact on your spouse.
After three missed payments, your debt arrangement with creditors will be broken and you will end up getting chased again for the original debt amount plus interest.
A debt consolidation offer can be paid off earlier if you can. In this way, you receive your “Certificate of Completion” sooner and you can immediately start rebuilding your credit score.
National Debt Relief Services Ontariois a certified Canadian Debt Relief Agency that offers FREE CONSULTATION to your debt consolidation needs. We value the trust given to us by our clients by making sure your personal information is confidential and private. Our personalized plans are designed to tailor fit your financial capacity. Our specialists will get in touch with you by simply answering a few questions thru the link provided below.
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