If you have received an adverse court judgment requiring you to make payment for a debt or an order for maintenance support of a family member, you cannot hope to escape from the obligation by declaring bankruptcy or seeking protection under Jamaica’s insolvency laws.
And if you have no assets that can be sold to satisfy the debt, but earn an income, your wages will be annexed to pay off creditors.
Over the past three years, the Office of Insolvency has handled 33 cases for persons seeking protection, but only one filed for bankruptcy.
“The trend continues with individuals applying for bankruptcy only when they are in a desperate financial crisis,” says attorney-at-law and Government Trustee Fayola Evans Roberts. “Disc…
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