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What to Do About Wage Garnishment

What to Do About Wage Garnishment
Brutus - Wed Apr 25, 2012 @ 02:58PM
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You know all about wage garnishment. You've seen it happen to your friends and family members and it can be devastating. Too often people just don't do anything when they are sued because they don't have the time or money to go to court, lawyers are too expensive, and besides, you have a strict work schedule. You can't get time off when you need it. So, sometimes judgments happen, and shortly after the court orders you are on the hook for a lot of money because you couldn't afford to fight in court in the first place, you are left sitting there, not asking what is a wage garnishment? You already know what it is. Rather, you need to know what you can do about it. One avenue is bankruptcy. Bankruptcy won't get you off the hook for everything, but it can fix a lot of problems. Credit cards are one of them. Let's say you owe $50,000 on a credit card and have a $65,000 judgment and garnishment against you for it for essentially the rest of your life. Most likely, you'll be getting only 75% of your pay for the rest of your life. And with this burden you are going to financially collapse. There is a possible answer. 

Hire a lawyer, or do it yourself if you can't afford it, and call the lawyer that got the garnishment against you. Tell him he has to reduce your garnishment to something way less than you are being garnished for or you'll just file for bankruptcy. It might work. The lawyer might have you sign some sort of settlement reducing the amount to something more fair. If not, and of course assuming you have no other financial option because a 25% reduction in pay is just too much, file for bankruptcy! You'll show them that being too greedy does not always pay off. What is wage garnishment? Sometimes not a lot after the Bankruptcy Court comes to the rescue!

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