In most cases making a consumer proposal or filing personal bankruptcy will have no impact on your current or future employment. However, as an employee, there are a few things to consider before deciding which option is best for you.

Threat of wage garnishment: All employees are vulnerable to creditors garnisheeing their wages. More information about protecting your wages and stopping creditors from garnisheeing.

Ability to be bonded: Some employers require their employees to be bonded. This is very common in the financial services industry or jobs where employees handle significant amounts of money.

Ability to maintain licenses or other professional designations: Some jobs require employees to maintain licenses or other professional designations (i.e. realtors, financial advisors, and accountants). The different professional associations and licensing bodies view consumer proposals and bankruptcy differently. Therefore if you are employed in a field that requires you to maintain licenses or professional designations, we strongly recommend contacting the association or licensing body before taking action.

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