My creditors are threatening to seize my salary.

What should I do to keep my salary?

Julie checks her mail every day. Once again, she has received a stack of bills and letters from creditors. Her mailbox is overflowing with them. Discouraged by her ever-growing pile of unpaid bills, she opens the letters one by one,. One letter in particular catches her attention. It’s a letter from a creditor threatening to garnish part of her wages if she doesn’t pay her debts. Julie is very worried about the situation. She has two children and cannot afford to lose part of her salary! She decides to call her best friend, who has knowledge of her financial situation, in order to obtain her opinion.

Michelle : Hi Julie! How are you?

Julie : Hi Michelle, I’m not doing so great… Do you remember my debt problems? I just received a letter that says part of my salary could be seized, and I’m really worried.. I can’t have my wages garnished on top of my debts!

Michelle : Have you received multiple letters mentioning wage garnishment, or is only one of your creditors threatening to garnish your wages?

Julie : It’s just the one letter for now, but I’m worried other creditors will decide to proceed with wage garnishment too. At this time, I can only pay small amounts towards my debts, but I don’t know where to start. What would you do in my situation?

Michelle : First, I think you should contact the creditor threatening to garnish your wages and try to make a payment agreement with them. A payment agreement for that debt could temporarily ease your situation and prevent your wages from being seized.In fact, I think you should also contact all your other creditors to try and establish payment agreements with them.

Julie : A payment agreement? I’ve never heard of such a thing.

Michelle : One of my co-workers used that method. You need to contact your creditors, explain your situation, and tell them what you can pay for the time being. Then they decide whether they want to make a payment agreement with you. After that, you have to respect the payment agreement. This is very important.

Julie : What do I do if they refuse to make a payment agreement with me?

Michelle : That happened to my co-worker. She called a Licensed Insolvency Trustee at Ginsberg Gingras. They listened to her story and suggested the best solution for her situation. She’s been all smiles ever since she went to see them and received help with her debt problems.

Julie : Really? I’ll give it some serious thought.. I think I will follow your advice and try to make a payment agreement with my creditors. Your advice is always appreciated, my friend. Thank you!

Julie goes back to her bills and letters from her creditors. She draws up a repayment budget with the amounts she can afford to pay. She immediately calls some of her creditors to make payment agreements with them.

Unfortunately, one of her creditors refuses to negotiate, and threatens to take action in order to seize part of her salary as well. Julie, exhausted by the situation, decides to listen to her friend Michelle and contacts a Licensed Insolvency Trustee firm. She is confident they can give her more information and support her regarding her debt problems.

There are several solutions available to help you get rid of your debts and your creditors, such as a payment agreement or a consumer proposal. Consult a Licensed Insolvency Trustee at Ginsberg Gingras, who will lead you on the right path so you can free yourself from your debts.

Ginsberg Gingras, serving you for 40 years. Discretion assured.