The Basics of Wage Garnishment
It’s no surprise that many people are facing financial disaster as recent jobless rates have risen like the tides. Debtors may become overwhelmed with bills when debts accumulate and interest rates rise. In some situations, persistent creditors may seek a court order to have a debtor’s wages garnished. Wage garnishment is not only inconvenient and inconvenient, but it may also be mentally devastating. You do have options if you are in danger of losing a portion of your income.You may want to check out Greenville Wage Garnishment Lawyer for more.
How Are They Able To Do That?
The IRS frequently uses wage garnishment to collect debts owing to the government. Typical debts include:
- Court costs
- Taxes owed
- Financial assistance for children
- Student loans that have gone into default
- Any type of monetary judgement
The IRS isn’t the only one who may petition for wage garnishment; any creditor who wants to seize a piece of your paycheck must first file for and secure a court order. Upon approval, creditors will contact your employer and request that a portion of your payment be set aside. Even if you are a salaried employee, your company cannot refuse you. Creditors are limited in their ability to garnish only 25% of your disposable income; nonetheless, if you have additional debts, this can be critical.
Keeping Your Money Safe
If your creditors are threatening wage garnishment, you should speak with a bankruptcy attorney about your options for debt relief. The following are some frequent methods for preventing wage garnishment:
- Making direct contact with creditors. Often, you may work out a payment plan with your creditors that will satisfy them.
- If a new payment plan isn’t possible, talk to your creditors about paying a temporary settlement.
- Going to court to fight a court-ordered salary garnishment. You’ll need to employ a lawyer to defend you.
- Bankruptcy, which can assist relieve the burden of dischargeable debts.
In Florida, creditors are prohibited from garnishing your wages if your earnings account for more than half of your family’s entire income. This implies that creditors cannot lawfully take your earnings if you are a single mother or father in Florida. If you are being harassed by creditors, you should speak with an attorney about your legal alternatives.
Gillespie & Murphy, P.A
101 W. 14th Street, Suite 101, Greenville, NC, 27834