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marmar
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Subject: garnishments
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Wed Oct 22, 2008 7:30 pm
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| i was out of work for a while and i got behind on my car note and they are telling me that i can't make any payment arrangment they just want thier car back. they also inform me that they were going to garnish my wages what can i do? |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1298
28935 Magic Points
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Thu Oct 23, 2008 10:30 am
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Hi Kim Bardmass
Missouri laws allow for a maximum of 25% of your wages for garnishment. However if you are the head of a family, the maximum percentage that can be garnished is 10%. However, if you have a child support, the garnishment can be higher.
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All the Best 
Justin |
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fireyone
Joined: 26 Feb 2008
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Posts: 4493
8662 Magic Points
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Mon Oct 27, 2008 12:01 am
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| I am glad to see that Missouri has these limits set. If you are raising a family 10% is reasonable. Some states teh garnishment is alot higher. Here in PA they can not garnish wages unless it is for taxes or child support and I feel that is right. |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17417 Magic Points
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Mon Oct 27, 2008 9:43 am
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Not only in Missouri, but also in other states, there are certain limits upto which the wage can be garnished. The entire wage can never be garnished and certain amount of the disposable earnings should always be kept for the expenditure of the debtor for making essential consumptions. Most states allow for a maximum of 25% of the disposable wage for garnishment.
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Where there's a will, there's a way !! |
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fireyone
Joined: 26 Feb 2008
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Posts: 4493
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Mon Oct 27, 2008 11:05 pm
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| This is a really good tbhing. I can only imagine how hard it would be to make it out there with the economy the way it is if states were free to gsrnish what they wished. |
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wonder girl
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Subject: question about garnishment
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Sun Dec 07, 2008 11:55 pm
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| I had one garnishment of over 14,000 dollars and was told by a lawyer that they couldn't garnish my wages again till the other garnishment was over. Today I received a letter for another garnishment. Is this legal --should I contact another lawyer? I live in Missouri. |
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wonder girl
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Subject: reply
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Mon Dec 08, 2008 12:00 am
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| I have had 25% garnished but they can also go take all from your checking account and savings account and any savings bonds you may have. They can take all your checking, savings etc. I checked with a lawyer. They don't care if you have gas money or food money or anything! |
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wonder girl
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Subject: question about garnishment
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Mon Dec 08, 2008 12:06 am
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| So now with a second garnishment -- I guess they will be taking 50% of my check. I am not sure how a person is supposed to survive on half of what you make. |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17417 Magic Points
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Mon Dec 08, 2008 11:48 am
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Hi Wondergirl
Now matter the number of times your wages are garnished by the creditor, as far as I know, that Federal laws allows a maximum of 25% of your wage to be garnished. Now, as far as your savings and checking account is concerned, the creditor can garnish the entire amount in addition to the 25% of your wage, till the time the outstanding debt is repaid in full. But for that they need to bring judgment against you.
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Where there's a will, there's a way !! |
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wonder girl
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Subject: garnishment
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Tue Dec 09, 2008 2:49 am
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| Well I don't know what they will do because I already have a garnishment going and now they sent this other garnishment from the same court but from other collection. I have a judgement with both. I don't know how a person can survive or ever get caught up on all your bills with this. I know it is no ones fault but my own for getting in debt but I have learned my lesson just too late. I am also having a lot of copays and medical expenses due to my medical problems I have. |
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Justin
Joined: 17 Jul 2006
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Posts: 1298
28935 Magic Points
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Tue Dec 09, 2008 8:55 am
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That is the main reason why one should plan their monthly expenditure and save some amount from wage and keep it in a separate savings account for emergency expenses instead of borrowing from outside. Most of the credit card companies will offer you cards when you have a good credit score and make you spend more on the cards through incentives like reward points. Now if you fail to pay back the debt on time they report it to the bureaus and bring judgment against you to garnish your wages. So what I think is that, one should not maintain more than 2 credit cards so that he can keep track of his spending.
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All the Best
Justin |
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wonder girl
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Subject: garnishment
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Wed Dec 10, 2008 2:41 am
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| Well I understand most of that now but I wasn't brought up like that. I came from a poor family that barely had food and heat in the house. We lived paycheck to paycheck and sometimes no check at all. I went thru a huge depression with my husband wanting to leave me. He has stuck it out but keeps several thousand in his checking account and has 40,000 in his retirement plan. He will help me in no way shape or form. Yes I shouldn't have gotten in so deep but I was doing fine till I got really sick but that didnt matter to him now I am paying dearly for all. I am not sure of your age but I am near retirement now. I used to never have any money problems. It didn't start till after my illness and being off work for several months without pay. Like I said I learned my lesson and maybe I should file for divorce then bankruptcy. I don't know I guess I need to contact a lawyer to see what my options are. Thanks for the help and to the one who has all the answers. We will see -- |
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fireyone
Joined: 26 Feb 2008
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Posts: 4493
8662 Magic Points
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Tue Dec 16, 2008 1:25 am
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| Wonder girl I am sorry to hear things are going so rough for you. Is there any other way out rather than bankruptsy? How selfish of your husband to kick you when your down. If you do divorce I imagine you would be entitled to some of his retirement. I believe that also applies during divorce. I had a brother in law that divorced and he ended up having to cash out his 401k and give the wife half. If all else fails you could try the bankruptsy but remember the laws on this have changed. You now have to pay back your creditors. They will put you on a repayemnt plan and will drop the interest on credit cards for so many years. |
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carol
Joined: 27 Jun 2006
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Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Tue Dec 16, 2008 7:16 am
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Yes, since you are earning, you cannot file a Chapter 7 bankruptcy. You need to file a Chapter 13 bankruptcy where you need to repay back a portion of the outstanding debt from your paychecks. Once you file bankruptcy, the creditors need to stop garnishing your wages immediately. In Chapter 13 bankruptcy, you need to repay back the loan (as decided by the bankruptcy court) within a 3 to 5 year period from your monthly income.
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Keep in touch
Carol |
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fireyone
Joined: 26 Feb 2008
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Posts: 4493
8662 Magic Points
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Tue Dec 16, 2008 2:53 pm
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| Also they will probaly put a person,sometimes a lawyer ahead of your finances. What that person does is figures out what you need to live on and takes the rest and applies it to your debts. Sometimes they do not leave you much to get by on so really think about this move. I read some pasts on it here. Maybe you can go back through some of the old posts and read up on it. I really feel for your situation but if you can find any other way rather than bankruptsy I would advice trying them first. Good luck. |
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