Re: garnishment of wages

Posted by LadynRed (199.91.33.254) on February 12, 2003 at 14:20:46:

In Reply to: garnishment of wages posted by Leah on February 11, 2003 at 23:00:44:

Multiple posts here on garnishment, answer is the same in most cases. They CANNOT garnish anything unless they sue you first and win a judgment. Even then, they can only get either 25% of your NET pay or 30x the Fed minimum wage, whichever is greater. If you don't have enough take-home pay, they can't garnish at all !!

No way to know if or when a CC will sue you. Discover does so VERY quickly. From what I've seen they jump on the lawsuit button almost as soon as an account goes to charge-off, and the amount doesn't matter to them.

Other creditors won't sue at all unless you owe them a LOT of money - it costs money to sue someone so unless they think they'll recover a lot, they won't even bother. Usually, if they're going to sue, it happens AFTER charge-off.

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