| Author: |
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Anonymous |
| Date: |
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June 23, 2000 |
| Question: |
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I had co-signed a loan with my wife, at the bank's
request. She has now gone into bankruptcy. I receive a Canada Pension
Disability in the amount of $890.00/month. Can the bank garnishee my
pension?
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From: |
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Shane Brenneis, Collins Barrow Limited |
| Date: |
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July 6, 2000 |
| Answer: |
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The bank cannot garnishee your CPP from the government but once it is
deposited in the bank it becomes 'cash' with no income definition and your
bank account can be garnisheed in full. If it's a joint account, they can
take half.
Shane Brenneis
phone: (403) 298-1575
sbrenneis@collinsbarrow.com
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