How to Avoid Wage Garnishment

Posted by: Sally S. | Nov 29,2007

Learn more about credit debt and how to avoid wage garnishment. In Credit Nightmares today there’s a post about wage garnishment that explains some of the legalities and how garnishment works. If your credit debt is in arrears and a judgment has been issued to your employer to garnish your wages, there are a few things you should know:

 

• Only one creditor can garnish wages from you at a time. If you have multiple judgments against you, each creditor will garnish wages until the credit debt is paid off, then the next creditor would begin wage garnishment, and so on.
• It is possible for other types of judgments to run concurrent with your credit debt. If you owe alimony, child support or have a student loan, these debts could be garnished at the same time as your credit debt.
• If you took on a second job to help pay off your debt (good for you), then those wages may also be garnished.

 

Avoid wage garnishment by working closely with your creditors to find out how you can get out from under your credit debt. Depending upon the situation, you may be able to settle debts for a lesser amount than you owe. If you have accounts in collections and you negotiate a credit debt settlement, make sure they put in writing that they will remove the collections report from your credit history. That way, you can manage your credit score and hopefully have a chance at rebuilding your credit with low-interest credit cards and loans.  

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