Quite commonly, creditors often believe there is a solution for their financial difficulties over the rainbow. Unfortunately, in most cases, that does not turn out to be the case. Quite often creditors receive documents served upon them by bailiffs and do not appreciate the urgency of taking the appropriate action. Typically, this will result in the creditor eventually obtaining judgment from the Court. Once these judgments are enforceable, creditors will often take a garnishment against the debtor’s pay.
Now imagine the emotion of being called by your employer and being asked to explain why they just received a notice from a bank or other creditor to seize a portion of your pay. Depending on a person’s employment, this can even affect their employment conditions.
The PBI Team is always available to answer your questions and advise you on the implications of any legal proceedings which you may have received. We are in a position to advise you on either a bankruptcy or a consumer proposal before any garnishment is instituted. Thus, your employer will not be aware of your particular difficult situation.
In the event a debtor files after the garnishment is taken, the Trustee will send a notice to your employer and the proceedings will be stopped. Generally, this will also apply to a seizure on a bank account. Particularly in the case of the Québec Government, the lifting of the seizure may take a few extra days once the matter is processed by the Trustee. We therefore urge anyone in this situation not to wait to the last possible moment.
Contact a PB Inc advisor and get the right information. You can never act too early, but you might be too late.