One of the worst parts about struggling to overcome debt is wage garnishment.

In many instances, creditors who receive judgment against you can have your wages garnished which means your paycheck will not even reach your bank account but instead go straight to the creditors.

If this is happening to you, then you can understand how negatively this can impact your life. Most of us need our full paycheck to live and to pay for the day-to-day expenses such as food, fuel, clothing, electricity, etc. If this is reduced, then you are likely going to be struggling a lot more than necessary. Furthermore, it also means that your family will suffer. After all, if there is no money for groceries this week, it is not only you who won’t be eating; it is also your children.

Wage Garnishment & Bankruptcy

Federal statute limits withhold up to 25% of disposable earnings per week in Michigan, unless the debtor’s earnings are at or near the minimum wage, 15 USC 1673, in which case no withholding is allowed.

25% of your disposable income may not seem like a lot but, in reality it is!  If you are having difficulty and think bankruptcy may be the right choice, please call Chimko to help you get back on your feet!