Having a garnishment on your paycheck is a terribly unpleasant situation for most. It is a common method used by creditors in an attempt to pay a debt that is owed to them.
According to Missouri wage garnishment laws, creditors can take up to 25% of your paycheck or 10% if you are head of household. When it comes to Illinois wage garnishment laws, 15% of your paycheck can be taken, regardless of whether you are the head of household.
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.
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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 your creditors are well experienced in getting this sort of order, a garnishment may appear on your check earlier than you thought.
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 garnishment isn't just embarrassing, it reduces your ability to support and protect your family. Luckily, there is something you can do to stop it.
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 lawyer will show you that chapter 7 can stop a repossession, protect you and your family from foreclosure, and prevent your creditors from taking any more action against you.
Wondering if Missouri or Illinois Chapter 7 is the right solution to your debt? Research all of your options thoroughly. 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. Start by researching free articles, blogs, and bankruptcy FAQ from reputable 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.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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