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Garnishment
Garnishment....
We've covered just about every other financial related topic, let's hit this one, too.
A Garnishment is a court ordered seizure of typically up to 25% of your salary from each paycheck. A creditor takes you to court, and obtains a judgment to authorize the procedure.
Usually, if you get served, you will have your wages garnished, so be prepared. If you were in financial trouble before, it will soon get worse, as you lose 25% of your pay check.
You must be served to be notified of the case pending. We have heard cases where the creditor's process server served the wrong person, (i.e. Joe Smith Sr, vs. Joe Smith Jr) who lived in another state. If you can prove that you were not served, you can beat them in this case.
If you get your wages garnished, and quit or lose your job, the creditor can get a court order to seize any money necessary to cover the judgment from your bank account. They assume any money there came from you, even if it is a joint account. If you have a joint account with someone other than whom you were married to at the time the debt occurred, you may want to remedy the situation. If you have a joint account with a parent, for example, the amount in that account is at risk, even if the parent is the only person who actually deposits money into the account.
If your income comes from Social Security, Disability, Railroad Retirement, and several other specific sources, you are, in many cases immune to this type of account seizure. Do a bit more research to see if you fit into a category in your state, and prepare to file an appeal in court. Prove that the income came from another source than the person who was garnished, and you stand a very good chance of getting back your money from the people who took it in the first place.
How can you "beat" a garnishment?
That's a tough one. Unless your income is from a protected source, (see above), or you file Bankruptcy, you are stuck. If you have a job, or they can find a Bank Account in your name. You will pay. You may be ordered in for asset hearings, which determine where your assets are hidden. Missing an Asset Hearing can get you a contempt of Court citation, which in turn can get you an orange jumpsuit and "three hots and a cot" for a term. Asset Hearings are serious issues.
And, of course, by now your credit is a wreck. You have the original account, the collection account (usually real attorneys), and now the judgment will show up as an additions score "ding". We have seen it all before, and cleaned up the mess. We can do it again.
At CCFG, we are not attorneys. We do nto offer professional Legal Counsel. We do, however know how the world really works, and have learned from various situations that our clients have found themselves in over the years. We though we would share.
We've covered just about every other financial related topic, let's hit this one, too.
A Garnishment is a court ordered seizure of typically up to 25% of your salary from each paycheck. A creditor takes you to court, and obtains a judgment to authorize the procedure.
Usually, if you get served, you will have your wages garnished, so be prepared. If you were in financial trouble before, it will soon get worse, as you lose 25% of your pay check.
You must be served to be notified of the case pending. We have heard cases where the creditor's process server served the wrong person, (i.e. Joe Smith Sr, vs. Joe Smith Jr) who lived in another state. If you can prove that you were not served, you can beat them in this case.
If you get your wages garnished, and quit or lose your job, the creditor can get a court order to seize any money necessary to cover the judgment from your bank account. They assume any money there came from you, even if it is a joint account. If you have a joint account with someone other than whom you were married to at the time the debt occurred, you may want to remedy the situation. If you have a joint account with a parent, for example, the amount in that account is at risk, even if the parent is the only person who actually deposits money into the account.
If your income comes from Social Security, Disability, Railroad Retirement, and several other specific sources, you are, in many cases immune to this type of account seizure. Do a bit more research to see if you fit into a category in your state, and prepare to file an appeal in court. Prove that the income came from another source than the person who was garnished, and you stand a very good chance of getting back your money from the people who took it in the first place.
How can you "beat" a garnishment?
That's a tough one. Unless your income is from a protected source, (see above), or you file Bankruptcy, you are stuck. If you have a job, or they can find a Bank Account in your name. You will pay. You may be ordered in for asset hearings, which determine where your assets are hidden. Missing an Asset Hearing can get you a contempt of Court citation, which in turn can get you an orange jumpsuit and "three hots and a cot" for a term. Asset Hearings are serious issues.
And, of course, by now your credit is a wreck. You have the original account, the collection account (usually real attorneys), and now the judgment will show up as an additions score "ding". We have seen it all before, and cleaned up the mess. We can do it again.
At CCFG, we are not attorneys. We do nto offer professional Legal Counsel. We do, however know how the world really works, and have learned from various situations that our clients have found themselves in over the years. We though we would share.
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No Interest Charges or Carrying Fees!
That's CCFG's Total Fee! Limited Time Offer!
In 2008 this was a deal at $795,
and we still have no per item charges!
This is our Bailout Special, a far better deal than
Buy One, Get One Free!
Get your own Stimulus Package started today!
Enter Your Special Pricing in the Blanks Provided on the
Application Form.
Let's Do It, Get me an Application!
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