Throughout the past number of years (about 15 years to be exact), it has always surprised me when I meet with people who have a wage garnishment in place, that they have been struggling as a result of wage garnishment for a number of months, if not years, assuming that nothing could be done about it. I’ve heard a number of reasons of why people wait so long before contacting a professional, such as myself, at A. Farber & Partners, Licensed Insolvency Trustees.
I’ve been told that the main reason for not contacting me sooner is that people feel that it’s too late to do anything once a wage garnishment is in place. People are always amazed that I can stop a wage garnishment immediately (including with Canada Revenue Agency), once they file for protection by filing a Bankruptcy, Consumer Proposal, or Division I Proposal.
Another question often asked by people who have a wage garnishment, is how did the creditor find me? People often wonder how a creditor got their contact information. There are many ways for a creditor to find you.
The easiest way to find someone is the internet. It sounds obvious, but people would just search your name directly on the internet (and lots of information may be listed).
Another method would be through your original credit application. On a credit application, you may have listed a number of references, so the collector may have called them first. It could be a former employer, or a person at a former residence where you once lived, or a number of other things you listed on your credit application. Past references are trying to be helpful or do not want calls made directly to them, so forward your contact details.
The next most common way to track someone down is through the Credit Bureaus. We have 2 credit bureaus in Canada: Equifax and TransUnion. Some creditors belong to either one or both credit bureaus. The Credit Bureaus keep track of some important personal information. For example: where you worked, where you lived, phone numbers, who you owe money to with limits and balances, payment history, amongst other personal details. If you applied for any form of credit recently, you are providing a creditor with all your new contact details.
I offer a FREE consultation to discuss all financial options with you either over the phone or in person. It’s better not to wait for a wage garnishment first, but if you have one in place, I’m more than happy to help.