Wage Garnishment Alberta
What Is Wage Garnishment & How Much Can Wages Be Garnished?
A garnishment of wages is when a court issues an order requiring your employer to withhold a certain amount of your paycheck and send it directly to the person or institution to whom you owe money. This continues until your debt, and often other incidental fees are paid off. The Canada Revenue Agency does not need a court application to garnish wages.
The rules for how much can wages be garnished varies from province to province. Generally, the garnishment rules in Alberta are such that you keep the first $800 of your net income, then creditors may garnish up to 50% of your income between $800 and $2400, and 100% of any net income over $2400. The exemption amount may be increased depending on how many dependants you have. Be aware that if you owe Canada Revenue Agency or if you owe for child support or alimony, these same rules do not apply.
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DEBT AND WAGE GARNISHMENT.
It’s hard enough for us to talk about finances when we can pay our bills and we’re staying afloat.
But when times get tough, it seems like the money we owe is even harder to talk about.
Melissa’s overdue bills had been piling up for months. She couldn’t remember when money started to get tight, but it seemed like her situation was getting worse.
Her worries grew.
"When will I ever catch a break?"
"When will I have that loan paid off?"
"Will I be able to pay my rent or mortgage?"
"Will I be able to feed my family?"
Melissa knew she was in financial trouble. But when the threat of wage garnishment came knocking, she felt like her ship was sinking even faster. Receiving her paychecks in full each month was crucial for making ends meet, and now even her income was at risk.
Fearing the worst, Melissa reached out to a Licensed Insolvency Trustee to discuss her situation. She learned that there are ways to keep the ship afloat, and that there are steps you can take today to stop the water from rushing in while wages are garnished.
Most importantly, she learned that there are people who understand what you’re going through, and have the experience and resources needed to get your ship back on course.
If you’d like to learn more about how to stop a potential wage garnishment, or put an end to an ongoing wage garnishment, call us at The Fryzuk Group today. We have helped countless Albertans just like you take control of their debt.
Are Your Wages Going To Be Garnished?
Ways To Stop Wage Garnishment:
- Call the creditor to negotiate payment terms and have them remove the garnishment;
- Liquidate assets or obtain a loan to pay off the creditor in full;
- Cease employment with the employer, though not often the best option, will not give the creditor any income to garnish;
- File an Orderly Payment of Debts plan;
- File a Consumer Proposal
- File a Bankruptcy
What Should I do to Stop a Wage Garnishment?
If you are worried about a creditor or the government garnishing your wages, contact us at The Fryzuk Group Inc. to discuss your options and to get the guidance you need to make the best choices for your situation. You can do this by calling us at 403-561-8228, texting us at 587-438-9786 or emailing firstname.lastname@example.org.