When you are a senior, it can be difficult generating the amount of income required to pay off debts, especially when you don’t have a job. As a senior, you may be troubled by your medical bills, rising property taxes, and other inflation-related issues, and bankruptcy can be a possible option to eliminate debt. Usually, it is difficult to enforce wage garnishment (deducting money from a person’s wage) on pensions, unless your creditor has more authority like the Canada Revenue Agency. If you decide to go the route of bankruptcy, you will pay a certain amount of depending on how much extra you earn from your pension over the earning standard each month, which will allow you to carry on your life as before.