Millions of people are suffering wage garnishment to repay debts they owe.
If you agree with some of these questions you may soon be one of them:
do you owe money to creditors?
do you have unpaid taxes?
are you very late on your child support payments?
have you defaulted on your school loans?
Are they planning to take you to court?
Legal action is not taken lightly and is used as a last resort in many cases. But it is a priority because debts such as taxes and child support need to be paid.
When facing garnishment, you have to understand exactly what this means.
In simple terms, it means taking part of your paycheck in order to repay a debt. Usually a court judgment is necessary.
The employer is supposed to take a set amount out per pay period which then goes to the person owed money.
State laws govern the reasons when garnishment is legal and which legal entity can order it. For example, the IRS can order wages to be taken out of your paycheck in certain instances. Also some counties allow garnishments without a court order for repayment of taxes.
Some states also limit the percentage that can be taken out of your wages.
This is for your protection because you still need to support your family. Wage garnishment is mostly used as a last resort. You can often negotiate with the plaintiff for repayment of the loan. Other times a debt counselor may assist you.
Garnishment can hurt your reputation and credit score. So do your best to pay your debts on time to avoid it.
The first thing to do when faced with the possibility of wage garnishment is consult an attorney. He or she is best informed to tell you your rights. Remember repayment of debt is a serious matter that you should not be taken lightly. Be prepared and you'll be ahead of the game.
If you agree with some of these questions you may soon be one of them:
do you owe money to creditors?
do you have unpaid taxes?
are you very late on your child support payments?
have you defaulted on your school loans?
Are they planning to take you to court?
Legal action is not taken lightly and is used as a last resort in many cases. But it is a priority because debts such as taxes and child support need to be paid.
When facing garnishment, you have to understand exactly what this means.
In simple terms, it means taking part of your paycheck in order to repay a debt. Usually a court judgment is necessary.
The employer is supposed to take a set amount out per pay period which then goes to the person owed money.
State laws govern the reasons when garnishment is legal and which legal entity can order it. For example, the IRS can order wages to be taken out of your paycheck in certain instances. Also some counties allow garnishments without a court order for repayment of taxes.
Some states also limit the percentage that can be taken out of your wages.
This is for your protection because you still need to support your family. Wage garnishment is mostly used as a last resort. You can often negotiate with the plaintiff for repayment of the loan. Other times a debt counselor may assist you.
Garnishment can hurt your reputation and credit score. So do your best to pay your debts on time to avoid it.
The first thing to do when faced with the possibility of wage garnishment is consult an attorney. He or she is best informed to tell you your rights. Remember repayment of debt is a serious matter that you should not be taken lightly. Be prepared and you'll be ahead of the game.
About the Author:
Jenny Miles writes about financial topics such as debt relief and bankruptcyt. Learn more about how to stop wage garnishment when you visit her blog.