Nothing is more unpleasant than working hard for a paycheck, only to have your boss take out a fourth to give to someone else. All those hours you worked and you don't get paid for them! If you can't afford to have others dipping into your paycheck, call the Debt Solutions Law Center.
Garnishment is a court order to a Payor (someone with a legal obligation to a Payee) to direct the payment to a Creditor of the Payee. So for example, if a creditor obtains a judgment against you, he may enforce that judgment by serving a garnishment summons on your employer, who will then direct a portion of your paycheck over to the Creditor.
Creditors can also garnish your bank account. What creditors cannot garnish are exempt funds, such as Social Security Income (SSI). So you will never have to worry about your SSI check being garnished. However, once you place those exempt funds into a bank account, they are commingled with non-exempt funds and can be garnished.
Let us help evaluate your situation. Call us today to schedule a free no obligation consultation at (405) 702-7795.
If you file for bankruptcy protection, the Automatic Stay will halt any garnishment until further order of the court. Garnishment is a very common reason that drives people to file for bankruptcy protection. Further bankruptcy protection will stop any other creditors from attempting to collect any debts from you, any ongoing debt related lawsuits, and any harassing creditors from contacting you.