If you have gotten to the point where you have stopped paying your bills you may be wondering, can creditors garnish your wages?
The answer is yes, creditors can garnish your wages. This news can be hard for some debtors to hear but the good news is that creditors will not start taking money from your paycheck immediately.
For the majority of debts, creditors will have to sue you and obtain a court order before they can begin garnishing your wages.
If you have fallen behind on a loan, stopped paying your credit card bills or your medical bills, these creditors would need to obtain a court order before they can start garnishing your wages.
There are some types of debt that do not require the creditor to obtain a court order before they begin to garnish your wages. Those are:
- Alimony/child support
- Student loans
- Back taxes
The amount that will be garnished will depend on your income, how much debt you have and how many dependents you have. Wage garnishment laws vary by state so you will want to speak with a qualified attorney in your area. If you believe a creditor is going to garnish your wages and you live in Illinois, you can schedule a FREE legal consultation with Suburban Legal Group in Chicago to determine your best course of action for you and your legal situation.
If your wages are being garnished by the IRS they will send you a notification. Your employer is required to provide you with a copy of your garnishment paperwork. If your paycheck seems to be smaller you should talk to your employer immediately and find out who is garnishing your wages.
Falling behind on debts is stressful and going up against creditors is a big undertaking! That is why you want a qualified attorney handling it for you!
This information is an excerpt from our blog post: How Do Your Find Out Who Is Garnishing Your Wages?