In times of financial struggle, many individuals in Tennessee and elsewhere may be forced to experience a paycheck-to-paycheck lifestyle just to get by. Unfortunately, as debts continue to be a concern, some may face the possibility of having a portion of their wages withheld. Wage garnishment is a serious concern for many, and those who are confronted with the likelihood of a similar issue may wish to know the measures they can take to protect their paycheck.
Few things in life may be as frightening as learning that your wages are being garnished. When you are already facing nonstop bill collections and harassing creditors, suddenly bringing home a much smaller paycheck can be terrifying. However, you are not without options. In Tennessee, it is possible to stop wage garnishment and address your overwhelming debt through bankruptcy.
Tennessee residents are by no means immune to the economic strife and financial strains many others throughout the nation have experienced in recent years. Anyone who follows news concerning consumerism in America is likely aware that credit card debt is a major source of trouble in most states. In certain situations, a wage garnishment order may be issued as a means of collecting payment for debt.
For many Tennessee residents, earning a college degree is an accomplishment that is tinged with a measure of anxiety. While statistics still show that people with a college education make more than those who choose a different path, there is also concern about a shifting job market and economic instability. Many students have to rely on student loans to pay for college, and repaying those loans can be a challenge as they search for gainful employment after graduation. For those who eventually default on their loans, wage garnishment is a real concern.