As a St. Louis bankruptcy attorney, I file cases for individuals seeking debt relief in both Missouri and Illinois. Even though there are similarities when filing in these two states, there are a few differences as well. One difference is the way wage garnishments are handled. The major difference is that in Illinois, it isn't called a wage garnishment, but a wage deduction. This is important for you to know because if you receive notification that your wages are subject to deduction, you want to realize what this means.
Also, there is a difference in the rates creditors can take from your wages in Missouri and Illinois. In Illinois, a standard wage deduction is 15% of your wages, while in Missouri the standard wage garnishment is 25%. If you live in Illinois, and are the head of the household, then your wage deduction rate remains the same. On the other hand, if you're head of household in Missouri, your rate goes down 10%.
The good thing is that in Illinois, just like Missouri, your employer can't fire or suspend you because of a wage garnishment or deduction. Even though you can't be fired, you need to realize that your employer will be aware of your financial situation, which can be difficult for you to handle. Fortunately, there is a way for you to stop your wage garnishment or deduction and get out from under that mountain of debt.
Bankruptcy is a solution to wage garnishment. In fact, it completely stops once you file. Filing bankruptcy can also stop creditors from taking any other action against you, such as repossession, foreclosure, etc.
If your wages are being garnished in Missouri or Illinois, you may not need a lawyer, but what you do need is helpful information to arm you from harassing creditors. That's why my best advice is: before you speak to a St. Louis bankruptcy attorney, debt collectors, or sign any forms, you need to read my free book. "Get Out of Debt: Secrets Your Creditors Don't Want You to Know" can give you the answers you need to start fresh financially.
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Have your hours been cut back because business has been slow or, even worse, have you lost your job? Don’t know how you’re going to pay your bills? Keep a roof over your head? We can help you get your life back. Contact a St. Louis job loss lawyer at Castle Law Office today to learn how filing bankruptcy can help you after loss of employment.
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