Wage Garnishments And Your Options
Garnishment, according to Wikipedia, is “a legal order for collecting a monetary judgment on behalf of a plaintiff from a defendant.” Wage garnishment, the most common type of garnishment, is the process of deducting money from an employee’s salary or wages. It happens when a creditor obtains a court order compelling an employer to withhold a percentage from a debtor’s wages or salary. Creditors can’t take everything you earn, but if you’re already in debt, a wage garnishment can make it even tougher for you to get from payday to payday. If a creditor is garnishing your wages or threatening to, it’s time for you to consider bankruptcy or an alternative debt relief strategy. If you’re in or near the Chicago area, you should first seek the advice of an experienced Chicago debt relief lawyer, and you should do so promptly.
Bankruptcy is a common reaction to wage garnishment. Bankruptcy instantly stops creditors from taking further action against you. If you choose to file bankruptcy, you own no major assets, and you want to eliminate your debts as far as possible, a Chapter 7 bankruptcy may be your best option. If you have assets to lose and you would prefer to pay off your debts over time, you may opt for a Chapter 13 bankruptcy. One important benefit is that bankruptcy keeps creditors away from your employer. Experienced Chicago debt relief lawyers counsel clients every day regarding bankruptcy, debt negotiation, and other debt relief strategies. Don’t hesitate to get the advice and help you need to determine the strategy that’s best for you.
Employers in Illinois may not retaliate, terminate, discipline, or refuse to hire you because of a wage garnishment. Bankruptcy is one of several options you’ll want to discuss with a Chicago debt relief lawyer. If a creditor starts garnishing your wages – or threatens to – in the Chicago area, don’t wait. Make the call to an experienced Chicago debt relief lawyer as quickly as possible.
