Three Ways To Put An End To Wage Garnishments

You work hard for your money, and a good chunk of every paycheck you receive goes to pay taxes and other things like medical insurance and a little to your retirement fund. These deductions reduce the amount of your take home pay and sometimes it can be shocking to see just how much money is held out of your pay. So when even more money is taken out for something like a wage garnishment it can cause you to go home with even less and maybe not be able to pay all of your bills. Having your wages garnished can create a real hardship on you and your family because now you might not have enough money to pay for necessities. If that is the case you should take action to stop the garnishment and keep your money for the things you need.

There are a couple of things you can do if you are being garnished and it is important to pick the one that works best for your situation. Three ways to put an end to wage garnishments include doing the following:

●          Calling the lender to negotiate a voluntary payment that is more in line with your budget.

●          Ask the Court to stop the garnishment due to the fact that the money being taken out of your check is too much and it is making it hard for you to pay for basics like food and shelter.

●          File for bankruptcy.

Of these options, bankruptcy may be the most effective. This is because not all lenders will be willing to work with you to negotiate a lower payment. Most lenders believe if the debt has become past due to the point of needing a garnishment to collect what is owed that the borrower will not be able to maintain a voluntary payment. Going to Court to present your case for a hardship can also be risky because you are at the mercy of the Judge. Depending on how your disposable income is spent it is possible the Judge might take the position your expenses are too extravagant. This leaves bankruptcy is the only viable option, and when you file bankruptcy all wage garnishments are required to be put to a stop. With bankruptcy you do not have to negotiate with your lender regarding the garnishment, it is simply the law that nothing further can be taken out of your paycheck. If you are being garnished and it is making it impossible for you to pay all of your bills or put food on the table for your family, consider bankruptcy as a solution.

For more information bankruptcy, call us today or reach us online at www.law-ri.com. We have multiple locations to serve you and can schedule a time to meet at the office most convenient for you.