If you have a wage garnishment this likely means that you should have consulted a bankruptcy attorney a long time ago. Wage garnishments can kill a families ability to support itself. A family who has a wage garnishment was usually struggling to just make ends meet before the garnishment. After the garnishment starts having 25% of gross wages taken away can literally make it impossible for a family to pay for its needs. I am often asked what are my options to stop a wage garnishment. Assuming the debt is a legitimate debt that you owe you will usually only have two options to stop the garnishment.
- The first option to stopping a wage garnishment is to make arrangements with the creditor to make a one time payment where you will pay the debt in full. This is not something the typical family can afford. If they could have afforded to pay the debt they would likely have done so in the first place.
- The second option is to file for protection under the bankruptcy code. As soon as you file you are protected by the automatic stay which prohibits any further debt collection activities by any creditor. The automatic stay is one of the most powerful consumer protections offered by the federal government.
If you are either facing having your wages garnished or are currently being garnished I recommend that you consult a qualified bankruptcy attorney today. Even if you decide that bankruptcy is not for you it is always better to know ones options than to be ignorant of the help that may be available to you.
If you have questions regarding bankruptcy in Indiana please contact Jackson & Oglesby Law at (877) 489-0908 or visit us at www.IndyBankruptcyLaw.com. Jackson & Oglesby Law can assist you with all aspects of your bankruptcy case. If you have questions regarding Chapter 7 bankruptcy, Chapter 13 bankruptcy, stopping foreclosure or wage garnishment, avoiding liens, stopping law suits, discharging debt, etc. we can help! Please call us today for your free phone consultation to determine which bankruptcy may be right for you.
As above give a nice post. As continued as you file, you are accountable to the automated stay, prohibiting any creditor any added debt accumulating activities. Automated break is provided by the federal government's a lot of able customer protection.
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ReplyDeleteIn Minnesota, there are five limits on wage garnishment. Creditors cannot garnish wages for social security benefits, retirement benefits, welfare payments, workers' compensation benefits, or income associated with disability or unemployment insurance.
The IRS/State file tax liens to protect their interests. Recorded with one or several county recorders, a tax lien basically tells the world that you owe back taxes, and is generally devastating to the taxpayer's credit. This makes it very difficult to obtain credit or to sell real estate.
I agree very much. The question is, do you know of anyone who can stop wage garnishment in Chicago, IL? That would be so helpful, thanks!
ReplyDeleteThanks for sharing. I would really love to learn how to stop wage garnishment in Chicago, IL. I need help, what do I do?
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