Question: I’m 66 years old.retired. My income is my pension. the ex filed brankuptcy. In the agreement he took full responbility of the credits card,one is my named. the creditor are now calling me several times. Can they seige my pension. What should I do? thank you
Answer: It is virtually impossible for a credit card company to seize your pension. The only obvious exception would be if you have a credit card with XYZ Bank, and your pension is deposited into your bank account at XYZ Bank. They could take the cash directly out of your bank account. The solution would be to bank at a bank where you don’t have any money.
You could go bankrupt, but in general if your income is from a pension, it cannot generally be garnisheed, and therefore you could simply tell the creditors that you are unable to pay. FOr more information, contact a local Ontario trustee.