Debt is a difficult thing to deal with, as it takes financial control out of the hands of people who owe. With fewer and fewer options to recover from bad fortune, poor spending habits or a grave financial event in life, many debtors feel that bankruptcy is their only option.
Bankruptcy is often a serious consideration after someone finds he or she is in danger of having his or her wages garnished. A legal order to withhold up to a quarter of wages can have profound effects on a person's lifestyle -- and immediate poor effects on people and children.
This is why there are several restrictions on wage garnishment. Anyone in Ohio subject to a wage garnishment must be notified 15 days before the first garnishment amount is removed from the debtor's income. Debtors should try to work with creditors to avoid this step, especially with an attorney specializing in bankruptcy and related issues.
An increasing danger in the Buckeye State is the creaky child support system, in which parents owe billions of dollars and often turn to the grey and black markets to avoid wage garnishment. Nearly 70 percent of the $114 billion owed is owed by people making less than $10,000 a year.
Wage garnishment can be a catastrophe for people who are only just able to make ends meet. If a debtor can avoid garnishment in the route to financial health and recovering from debt, he or she should work with his or her creditors or a trustee who is able to restructure debt in a way that works for all parties.
Source: U.S. News & World Report, "Report: Ohio Parents Owe Billions in Unpaid Child Support," Laura Bischoff, accessed Nov. 08, 2017