Stop Wage Garnishment with Bankruptcy
If you are already in debt, the last thing you need is for your wages to be garnished by creditors. In attempts to retrieve money that you owe, creditors can garnish up to 25% of your after tax wages.
In addition to garnishing wages, creditors can also garnish:
- Bank Accounts
- State Income Tax Return
Unfortunately, most people do not anticipate wage or other garnishment, and they do not find out about it until they see money start disappearing from their paycheck or bank account.
Filing for Bankruptcy to Stop Wage Garnishment
Filing for Chapter 7 Bankruptcy or Chapter 13 Bankruptcy can put a stop to wage garnishment, bank account garnishment and state income tax return garnishment. In some cases, you may even be able to get back the money that has been garnished by the creditor.
When you file for bankruptcy, garnishment will stop as long as the bankruptcy is in effect. Unfortunately, this does not include garnishment for domestic support obligations, and any payments for child support or alimony may continue during the bankruptcy process.
For expert legal advice and help from our experienced bankruptcy lawyers, contact us online or call us today at (734) 397-4540 for a free consultation.