Wage garnishment is likely one of the most scary and life-disrupting issues that can happen to someone. You make plans for the cash you earn and out of the blue find that you're not going to be getting nearly as much in your paycheck as you initially thought. And that lower paycheck will be your reality for, presumably, fairly an extended time. There are loads of myths and misinformation on the market about wage garnishment or wage levy and, in case you are in this place now or in the near future, you definitely want the facts.
Myth 1: No one can take money out of my paycheck without my permission.
It is a myth. Your employer will receive a notice of garnishment and, by law, has to comply. He or she doesn't have to speak with you or ask your permission. It should just happen.
Myth 2: Wage garnishment will occur with no warning ahead of time.
This delusion is the flip side of #1. Though the federal government does NOT want your permission to begin garnishing you wages, they DO have to present you notice. You will receive a number of notices BEFORE any money is taken out of your pay. You will receive a Notice and Demand for Payment, then 30 days [before] the levy begins, you'll get a Final Notice.
Myth 3: Once you receive your Final Notice there's nothing you can do to stop wage garnishment.
This is a myth, too. Once you get that Final Notice you've got 30 days to set up a hearing before the garnishment of wages begins. You still have time to work out a payment schedule by your own conditions instead of submitting to the conditions of the garnishment.
Myth 4: They must to allow me enough in my salary so that I can pay my bills.
That is another myth. Based mostly on the previous year's figures, you could be left with as little as $179.81 weekly for a single person, or $289.42 for a married couple.
Myth 5: My boss can fire me if my paycheck is levied.
It is a little trickier. Your employer is prohibited by regulation from firing you for your first paycheck levy. However, in case you have two or more garnishments you might be terminated.
Myth 6: Wages can only be levied for taxes or child support.
That is positively a myth. Your wages could be levied for education loans in default, unpaid court fines, and any form of monetary judgment from a court docket, in addition to child support and taxes.
Myth 7: They'll solely garnish my wages for one debt at a time.
This is not true. Your paycheck could be levied for a number of [debts] owed all at the same time. And, as talked about in Myth 5, your employer can fire you for a couple of garnishments.
An important information you must take from this is that there's a lot of misinformation on the market about wage garnishment. Be sure you get all of the information BEFORE the garnishment starts. Speak to someone skilled about your options and about what legal guidelines exist to protect you. It is much simpler to negotiate before the levy starts than to vary the garnishment provisions after it has begun. Don't wait -- get assistance instantly!Warren Buflet
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