Wage garnishment relief is a must for those in need. A wage garnishment is the result of an earnings withholding order. It means a creditor can collect what they are owed directly from your paycheck. Without your consent. Often creditors obtain authority to garnish wages through the sheriff’s office. Typically creditors obtain the ability to garnish wages after obtaining a judgment. They can then take the judgment to the sheriff who can then initiate a wage garnishment to collect the debt.
There is little employees can do to stop a garnishment. Some can seek a hardship waiver. But most cannot. A wage garnishment can take up to 25% of an employee’s pay. Wage garnishment relief becomes a big priority for those facing a garnishment. And for good reason.
U.S. News and World Report recently published an article depicting the need of wage garnishment relief for former students’ salaries being garnished by the U.S. Department of Education. It was for student loan repayment. And it was for a school that no longer was. No education. No degree. Now no normal paycheck. Tough spot to say the least. If student loan default can result in garnishment by the government, what does that say about the vulnerability of the American employees’ pay? It says a lot.
There are, though, ways around a garnishment. Paying off the underlying debt is an obvious choice. So is contesting the basis of the debt. But both these options are likely not to result in wage garnishment relief. Employees can rarely pay off debts resulting in garnishments. And rarely can the debts be contested. They are owed. They just can’t be paid. That’s why the wage garnishment was imposed.
The only option for many is bankruptcy. And a good option it is. Bankruptcy is often viewed as a last line of financial defense for most. And it should be. But a wage garnishment is obviously a sign of needing to play your last card. Besides, if you are facing a judgment and the need for wage garnishment relief, your credit is already impacted. Big time. Bankruptcy at this stage only serves to benefit your credit. Not to mention stopping any wage garnishment. Bankruptcy is a powerful financial tool. And a wage garnishment is predicament in need of a powerful fix.