Wage Garnishment

Wage Garnishment Explained?
1.    A garnishment is a legal process that involves initiating and subsequently collecting a monetary judgment against a defendant by ordering a third party to deliver finances. The finances at the forefront of a garnishment process would otherwise be owed to the entity who initiates the claim.

2.    With this definition in mind, a wage garnishment transfers monies from an individual’s salary to pay off the outstanding debt. 
3.    A garnishment is therefore a legal remedy authorized by a court to fulfill a loan obligation that is left outstanding.
4.    A wage garnishment in most instances is a last resort tool used by creditors to collect an outstanding debt from an individual who has defaulted on a loan.
5.    If the individual in question has repeatedly defaulted on a loan, the creditor may take money from their earned salary through a garnishment proceeding.
6.    A number of state and federal laws exist that will protect those in debtfrom predatory collection practices.

Wage Garnishment Process?
1.    A wage garnishment is issued when an individual fails to meet obligation outlined in a previous bill or debt.
2.    When an individual stops paying creditors, they creditor has the ability(through a court’s judgment) to collect what is rightfully owed.  The court order acts as the formallegal proceeding to initiate the wage garnishment process.
3.    Additionally, the court order details the amount owed and the interest rates attached to the outstanding debt.
4.    The court will review your particular financial situation and they decide that you are financially unreliable or unable to meet the loan requirements established through the previous agreement;they will permit the creditor to garnish a percentage of your earned salary.
5.    When the court orders this initiation, the creditor must supply you with a garnishment claim, which contains the following information: A clear statement that reveals the initiation of a wage garnishment proceeding; a description of any “exemptions” from wage garnishment (what cannot be taken from you in debt); directions to initiate the appeal process to refute wage garnishment.
6.     Following this issuance, the creditor will take the court order to the local sheriff’s department to fortify the collection process.
7.    If you possess valuable possessions such as: liquid assets, a motor vehicle, or regular wages; the process may be altered for liquidation.
8.    Upon receiving the court order, the local Sheriff will present your employer with the garnishment papers. Garnishment papers will order the employer to take out a certain percentage from each paycheck.
9.    The money taken from your salary is then used to pay off a portion of the outstanding debt.
10.    Wage garnishment is typically initiated when/if you are steadily working at more than the minimum hourly wage.