Wage Garnishment Relief
If you owe a sizable amount of money to a company and have not attempted to repay that debt, your regular wages can be legally garnished in order to collect the amount owed. However, there are ways to lessen the amount deducted from your paychecks.
Other People Are Reading
-
Evaluation
-
If you owe money to more than one business, determine which one is more likely to request a court-ordered wage garnishment in order to collect the money owed. If the business has tried numerous times to collect it or you have made extremely late payments, it is more apt to take legal action against you.
Negotiation
-
You can attempt to contact the owed business and negotiate a viable repayment plan before it petitions the court for an attachment to your wages (see "Reference 1"). Sometimes, businesses may only require as little as one-fourth of the amount owed in order to clear the case.
-
Reversal
-
In the event that a legal wage garnishment keeps you from affording sustenance or basic living provisions, you can file a "Claim of Exemption" with the court that issued the garnishment order. When your case is heard, you should have proof of your income and the amount of basic monthly living costs. If the presiding judge is convinced that you are in need of the money that is garnished, he can stop the garnishment order (see Reference 2).
Bankruptcy
-
In the event that negotiations with an owed business should fail and there is no other recourse, you may consider filing for bankruptcy. This can not only stop debt collectors from filing for wage garnishment but also can provide a means to reorganize your finances.
Attorneys
-
Should you have any questions, concerns or doubts about handling a wage garnishment issue, you can consult your attorney to determine the best course of action to take. His advice can be most helpful in obtaining the relief you desire (see Reference 3).
-
References
- Photo Credit dollars image by Marek Kosmal from Fotolia.com
