Anyone facing debt is dealing with a serious challenge. There are many ways into financial problems, but there are fortunately also many ways out. The right attorney can help clients consolidate debt, declare bankruptcy or find another way towards financial health.
Wage garnishments are reductions in income that can damage credit and make life seem unaffordable. Fortunately, it is rare that creditors feel they must resort to garnishing wages, and there are several ways out of it.
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.
Excessive debt always feels like something that happens to other people until it happens to you. It is hard to know how to respond when the government is helping your creditors take your wages, especially if you are still trying to return to financial health.
Debt is a normal part of realizing our dreams, from education to home ownership. When we lose control of our debt, however, it can be begin to control us. Creditors have many ways of demanding payment and altering our lifestyles to unbearable degrees.
Wage garnishments are one of the most frustrating ways to lose money. You never even see it. The money is just pulled from your paycheck, whether you like it or not.
Wage garnishment is a way for those who are owed money to collect it from you after the debt becomes delinquent, without having to rely on you to pay it. Instead, the money is taken from your paycheck straight from your employer.
Your wages are being garnished. You understand the debt and you don't deny that it exists. You're not contesting based on the fact that you think it's inaccurate. That doesn't mean you can't contest the garnishment at all.
If your wages are going to be garnished, the first thing you're probably wondering is exactly how much can legally be taken out of each paycheck. There are a few factors in play here, such as how much you make and how close your income level is to the poverty line.
If you've been ordered to pay child support and you're looking for a way to get rid of all of your debt, you may consider bankruptcy. If so, remember that bankruptcy does not have any impact on child support itself. If your wages are being garnished because you haven't paid, for example, that will still continue even if your case is successful.