Do you remember the excitement of getting your first job, and how quickly that excitement faded when you saw how much of your paycheck was held out for things like taxes? No one likes to have their paycheck reduced, but the facts of life are that certain charges come out of your pay that make your take home pay much less than what you need. There is little anyone can do to avoid having taxes withheld from their pay, but there are other deductions that can be avoided. One of these deductions is a wage garnishment, and if you have received a paycheck where money was held out to pay a creditor you should take immediate action.
Three good ways to stop a wage garnishment and put more of your hard earned money back in your pocket include:
- Calling the lender to negotiate voluntary payments on the debt. Sometimes the key to keeping lenders happy and off of your back is communication. If you show you are willing to talk to them about your debt they may be more willing to work with you on a repayment plan.
- Asking the Court to enter an order that states you are exempt from being garnished. Typically a showing of some sort of undue hardship as a result of the garnishment is required to get this type of Order, and that will mean you have to go to Court and bring in evidence about your expenses and pay.
- Filing bankruptcy will prevent a creditor from taking any collection efforts, including a pending garnishment.
Of these three options bankruptcy can provide the most benefits. Not only will bankruptcy stop a pending wage garnishment but it will also prevent a lender from filing a foreclosure or making collection calls. These protections are a welcome relief when you are facing too much financial stress and also give you a chance to collect yourself and to breathe again. If you have more debts than you can pay, are being garnished, or a foreclosure is imminent, call us for help.
For more information about how to stop wage garnishments or other debt collection efforts, contact us at www.DsouzaLegalGroup.com. We will help by coming up with solutions that fit the facts of your case.