Wage garnishments are garnishments that hold your pay back and give it to someone else to whom you owe a debt. For instance, if you owe student loans, the federal government could put a garnishment on your wages. The garnishment could be up to 15 percent of your gross earnings. That may not stop there, though, as the Department of Education could also choose to place a second garnishment for another 15 percent.
There are rules in place to help you avoid being fired or hindered badly by garnishments, but when they start to add up, it could be hard to get out from the debts. Instead of making earnings, you could be simply working to pay garnishments. Getting out from under these debts can be an issue, but if you claim bankruptcy or work with your attorney on other forms of debt relief, there may be ways you can reduce your liability or eliminate it all together.
Falling behind on daily bills is enough to put you at risk for wage garnishment. On top of that, you could find that the garnishments go onto your check and make it impossible to keep up with other debts you’re currently paying on. This could lead to even more garnishments, which is something you probably want to avoid.
Filing for bankruptcy helps by preventing wage garnishments. That means you can keep your income while working to repay or eliminate your debts once and for all. Our website has more information, so you can learn about bankruptcy and how it can help you.