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When you are financially floundering and faced with overwhelming debt you may fear the call of a creditor or the notice of a pre-foreclosure notification. However, there are other forms of debt that can come your way when you are struggling. While wage garnishments may be less well known than foreclosures and bankruptcies, they can be equally as overwhelming if not handled correctly.
Debt can build up from a number of different scenarios, all usually unplanned. Whether someone has lost their job, taken on expensive medical bills from an unexpected injury or illness or something else, the financial fees affiliated with such incidents can be more than anyone would know what to do with. When these types of situations arise, unpaid bills and maxed out credit cards inevitably follow. However, the onset of calls from hungry collectors is not the only thing to expect during this time.
Wage garnishments are also used to enforce the payment of someone's debt. This type of payment is reserved for those who work or receive a consistent form of monetary compensation such as a salary. A garnishment is the collection of monetary compensation; a wage garnishment puts the responsibility to pay the money owed by a defendant on the employer of the person who owes. What this means is that a predetermined amount of money will be systematically taken out of a person's paycheck in order to reimburse the plaintiff of the money due to them. The collection of money from one's salary will continue until the debt is paid in full. However, under certain circumstances other arrangements are made to pay back the money, at which point the garnishment will be relinquished.
Due to their nature, wage garnishments are usually served on the employer of the person in debt. Therefore, the it is included in the processing of payroll and is taken out of the debtor's earnings at each pay period. An employer will receive a legal notice alerting them of the need to withhold a certain amount of money from the wages of a specific employee, and the boss/owner is obligated to fulfill this request. There is no option for an employer to refuse the garnishment of an employee's wages when directed to do so by the courts.
The application of wage garnishments can result from a number of different debts that have not been paid off. These include, but are not limited to outstanding money owed from child support, defaulted student loans, unpaid fines and taxes. Just as unpaid bills or overdue taxes can hurt your credit, so too can wage garnishments. Not only will your ability to receive a future loan go down, but your chances of opening another bank account or maintaining good standing with your current lender(s) are very slim.
When you are in debt and facing the possibility of wage garnishment, there is no question as to the need for an experienced professional that can walk you through the legal process of what to expect. There are very specific steps that must be taken by the creditor in order to garnish a person's wage, and the time period in which they have to take the appropriate action is limited. As such, creditors act fast which means that you will need to act fast as well in securing a Dallas wage garnishment attorney to defend and protect your rights.
The Malaise Law Firm is conveniently located in San Antonio, Texas. Their firm is proud to have helped countless individuals, families and businesses find peace of mind during a time of financial turmoil. Their legal team is fully versed and up to date in current bankruptcy laws, and they use this knowledge to help their clients work towards reasonable solutions. No matter what types of challenges you are presently facing, their dedicated team is prepared to guide you through the legal process so you can take advantage of the bankruptcy laws and other debt relief options. You are urged to contact a San Antonio bankruptcy lawyer from their firm for a free consultation by calling (210) 226-5787 today.
SOURCE : http://goarticles.com/article/Wage-Garnishments-Defined/5485478/
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