I have had many concerns come up lately about wage garnishments—and how they can affect your income. First, what is a wage garnishment? A wage garnishment is a common effort by your creditors to collect the debt that is owed to them. They do that by taking a portion of your paycheck to pay your debt.
The creditor has to file a petition with the court and get a judgment to garnish your wages. While there is a time limit on how long they can garnish your wages, your creditors can go back through the court system and get it renewed if your debt is still not paid.
If you have received notice of a garnishment, they will most likely begin taking 25% of your paycheck. If you are the head of household and a Missouri resident, it may be capped at 10%. It will also be capped if the amount of weekly earnings exceeds 30 times minimum wage.
However, these minimums don’t apply to a child support garnishment. They can be taken out of your pay at a higher percentage. Currently, a child support garnishment can be up to 65% of your earnings.
While your employer is prohibited from firing you solely based on the garnishment, they will be made aware of your financial trouble, which is potentially embarrassing.
Filing bankruptcy in Missouri stops your garnishment. And the best part is, you are protected from the moment you file bankruptcy so we can stop your garnishment immediately. It can even stop garnishments for back child support or alimony.
Contact Castle Law Office of St. Louis to stop your wage garnishment.