Can I go to jail for owing money?

Monday, June 2, 2014 - 16:08

Consumer Proposals, Bankruptcy, Collection Agencies, Wage Garnishment


This is a very honest question and we're grateful that someone asked it so that we could put their mind at ease.

Your creditors cannot put you in jail for owing money.

Criminals who commit a crime go to jail. Owing money is not a crime. Owing money is a civil matter and is handled in civil court, not criminal court.

If you owe money to a creditor, the only legal action they can take is to sue you for the money owed and obtain a judgement, which would allow them to garnishee your wages.

You can prevent your creditors from commencing, continuing or enforcing any legal action against you by filing personal bankruptcy or making a consumer proposal.

We have offices across South Western Ontario with flexible hours to meet your needs. Don't let your debt stress you out.

We're to help you get a fresh financial start. Your first consultation is free.

 

Latest Posts

How To Survive Financially After Losing A Job

Losing a job can happen to anyone at any time. It seems like job insecurity is more of the norm these days than job security. The resulting stress can be tremendous even in circumstances where the layoff was inevitable or occurred for reasons outside of your control.

September 19, 2017

Money Management

Who will know about your bankruptcy?

Many people are concerned about who will know about the financial trouble that they are experiencing. Some people are embarrassed, while others simply aren’t comfortable sharing such information because, let’s face it, it’s really no one’s business but your own.

September 15, 2017

Bankruptcy

Why should I get a new account at a new bank?

There is nothing worse than having your bank freeze your account, taking money from your account without your permission or having your pay cheque constantly be applied to overdraft.

September 11, 2017

Money Management