Wage Garnishment
Question: I owe substantial balances to several credit card companies. One company has sued me already. If it wins, how much of my take-home pay can it get? And what about the other companies? I'm worried that I won't be left with enough money to pay for things like rent, food, and gas.
Answer: The total amount your creditors can take from your wages is 25% of your net pay. That limit applies whether you have one creditor or many. Remember, however, that each creditor must have a judgment against you to be able to garnish your wages. If more than one creditor has a judgment, the first one would garnish your wages, get the 25% until the judgment is paid, and then cancel the garnishment. Then the second creditor would garnish 25% of your wages until that judgment was paid. And so on.
If your income is very low, the creditor may not be allowed to attach the full 25%.
The only way to stop a wage garnishment is to pay the debt(s) in full or file a bankruptcy. For information on how we can help, contact us.
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For a free consultation about wage garnishment, contact us toll-free at (800) 775-1820. We are available to represent people in Lisle and the surrounding parts of Illinois, including Will, Cook, Kendall, Kane, Kankakee, Lake, McHenry, LaSalle and Grundy Counties.
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