Do I Have to Have a Certain Amount of Debt for a Creditor to Garnish My Wages?
By: Jim BrownWhat is a wage garnishment? A wage garnishment is a common tactic used by creditors in an attempt to collect a debt where they take a portion of your paycheck.
According to Missouri wage garnishment laws, creditors can take up to 25% of your paycheck or 10% if you are head of household. According to Illinois wage garnishment laws, creditors can take 15% of your paycheck, regardless of whether you are head of household or not.
Do you have to have a certain amount of debt for your wages to be garnished? Is there a specific time that creditors will wait before they garnish your wages? No. There isn't a common time or amount of debt that causes creditors to garnish your wages. It does, however, take time and effort to do so.
Creditors can't put a garnishment on your check without first going through the proper channels. They must file suit against you in regards to the debt, get a judgment against you for the amount you owe, and file an order with the court in order to garnish your wages. Unfortunately, this could be a routine practice for some creditors. If it isn't much of a hassle, you may see a garnishment on your check sooner than you thought or for a relatively low amount of debt.
Garnishments come with a time limit—although, a lot of creditors will simply renew the garnishment until they are completely repaid. That means you could be stuck giving up a portion of your paycheck indefinitely. A wage garnishment not only lets your employer know your financial status, it also keeps you from being able to fully provide for your family. Fortunately, there is a way to stop a garnishment on your check.
Chapter 7 bankruptcy in Missouri or Illinois can put a stop to actions from your creditors, like a garnishment, and help you pull yourself and your family out of debt. A St. Louis bankruptcy attorney can also assist you in getting protection from foreclosure, stopping repossession, and preventing your creditors from calling you or taking any more action against you.
Wondering if Missouri or Illinois Chapter 7 is the right solution to your debt? Take the time to make sure you understand every option you can choose for relief. Don't forget, doing nothing about your debt won't change anything. In order to get out of debt, you must make some tough decisions. You can begin to make an educated decision by looking up free information from the best attorneys in your area. Many attorneys will offer a free consultation but the best bankruptcy attorneys will offer you free information before you even set foot in the door.
Author Resource: Jim Brown is a bankruptcy attorney based in St. Louis, Missouri. He has spent 15 years fighting an industry that consistently takes advantage of hard-working Americans.He started his rim, Castle Law Office, with his wife and best friend, Sherrie. In his spare time, he enjoys coaching youth hockey, golfing, and spending time with his three wonderful children. For more information, visit http://www.castlelaw.net