Bankruptcy Explained: Protecting Your Paycheck From Creditors
Posted on Friday, March 6th, 2015 at 2:31 pm
If you have received notice that a creditor is suing for the right to garnish your wages, or if they have already begun to deduct money from your paycheck, it is time to seriously consider your options in bankruptcy. Many people find themselves facing wage garnishment when they were already having trouble paying all their monthly bills. So, when one of your creditors begins to take money straight from your paycheck, you may find yourself in worse financial distress than before.
Protecting Your Paycheck From Creditors
A Northern Kentucky Bankruptcy Attorney helps its clients obtain debt relief through Chapter 7 and Chapter 13 bankruptcy. As part of this process, an attorney can help you deal with threatened or realized wage garnishment issues. When you work with a good Bankruptcy Lawyer, they will quickly assess your financial circumstances and decide which type of bankruptcy will be best for you and your family. Once they file a Chapter 7 or Chapter 13, the wage garnishment will stop immediately.
Experienced Bankruptcy Lawyers Can Stop Wage Garnishment
Good bankruptcy attorneys can stop creditors from garnishing your wages. They will work to build a strong and successful case for you against creditors that are or are wanting to garnish your wages.
Did You Know?
- Once a creditor has secured a ruling to garnish your wages, they can often take up to 25 percent of your income per month, until the debt is repaid in full.
- Even if a creditor has already begun to garnish your wages, there may be legal remedies to reclaim the money — but it is nearly impossible to achieve without a qualified lawyer on your side.
Regardless of where you are in the garnishment process, time is always of the essence. Your best chance to stop a creditor from taking your income is to contact Lawrence & Associates right away. We are always prepared to take swift legal action in order to stop a garnishment and protect our clients.