The last thing you need is for one creditor to take up to 25% of your salary if the recent economic slump has made it more difficult for you to make your regular bill payments. Knowing that one debt is being paid off does little good if it keeps you from making mortgage or car loan payments for the vehicle you use to commute to work every day. Wage garnishment might also harm your working relationship with your company. You risk losing your employment if a separate garnishment order already applies to your wages. You can prevent income garnishment before it occurs with Robert A. Siegel's assistance at ZSTS in Glen Burnie.
According to the Maryland rules, the actual debtor plays a relatively minor role in the process. From a legal standpoint, wage garnishment takes place between these two primary parties:
Under federal law, creditors may only demand up to 25% of your disposable income, with several exceptions for people who work for minimum or almost minimum wage. We can provide you with bankruptcy advice and assist you in avoiding the catastrophic implications that wage garnishment can have on your capacity to pay your most significant debts. We are experienced bankruptcy lawyers.
Many people are reluctant to file for bankruptcy because they mistakenly think it will harm their financial and personal reputations. In reality, one of the benefits of bankruptcy is its capacity to indefinitely halt creditors' ability to pursue debt collection. I can evaluate your unique financial situation using my in-depth understanding of bankruptcy rules to assist you identify the best choices.
Schedule a free initial appointment with our bankruptcy attorneys to find out how we can help when a creditor notifies you that it intends to garnish your pay, or even when you anticipate receiving such a notification. We may frequently assist you in negotiating more favorable loan terms as long as you file for Chapter 13 bankruptcy before the garnishment really commences. You can frequently get the breathing room you need to repay all of your payments in full and on schedule by extending the loan term by up to five years.
I can also assist you in filing for Chapter 7 bankruptcy to prevent wage garnishment if you fulfill the necessary criteria. All debt collection activities are immediately put on hold when a Chapter 7 filing is made.
However, the elimination of garnishment typically depends on your ability to liquidate enough assets to repay the debt.
For a free initial consultation about how to avoid or delay wage garnishment, contact Robert A. Siegel with ZSTS, in Glen Burnie at 410-760-9433 or online.
Robert A. Siegel with ZSTS, is a debt relief agency as described in the federal Bankruptcy Code. This law firm helps people file for bankruptcy relief under the Bankruptcy Code.