Learn how a voluntary deposit can protect you from certain kinds of garnishments.

Voluntary deposit is paying to the Court a portion of your salary until 100% of your debts are paid off (plus 5% interest per year).This portion represents 30% of gross income (before taxes), from which must be deducted an exemption that varies according to the number of dependents ($273 per week for one person, $382 if the debtor has one dependent and 437 for two, etc). If a debt is related to alimony, the attachable portion will be 50% of gross income before taxes.

Limited Protection:

The voluntary deposit protects the debtor against salary garnishments, seizure of furniture found in his residence. However, you are not protected against seizures of your home, assets and furniture financed by an installment sales contract, bank accounts or a car.

The limited protection from seizures, a continued interest on all debt, the obligation to pay a relatively high percentage of your income and your R9 credit rating makes this solution not very interesting in most cases.

For more information, consult Quebec government’s website here (in French only): www.justice.gouv.qc.ca

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