If you’ve gotten to the point where you’ve stopped paying your bills, you may be wondering can creditors garnish your wages?
The answer is yes, creditors can garnish your wages. This news can be difficult for debtors to hear, but the good news is that creditors can’t start taking money from your paycheck immediately.
Have you’ve fallen behind on a loan, stopped paying your credit card or medical bills? For the majority of debts, creditors have to sue you and obtain a court order before they can begin garnishing your wages.
However, there are some types of debt that don’t require the creditor to obtain a court order before they begin garnishing your wages. These debt types include:
- Alimony / Child Support
- Student Loans
- Back Taxes
The amount that will be garnished will depend on your income, how much debt you have and how many dependents you have. If your wages are being garnished by the IRS, they’ll send you a notification. From there, your employer is required to provide you a copy of your garnishment paperwork.
Falling behind on debt is stressful. And, going up against creditors is a big undertaking! This is one of many reasons why you want a qualified, experienced attorney handling it for you.
To learn more about debt settlement, reach out to us today at (405) 801-2515 for a free consultation.