Is money already being taken out of your paycheck to repay old debts?
Are you worried that losing a chunk of your pay will get you into even worse financial trouble?
Fight wage garnishment with the help of the federal bankruptcy laws!
Contact us today to schedule a free consultation about your wage garnishment concerns.
Wage garnishment is one major way that creditors can get your money.
- If you are in default on a debt, the creditor can sue you to get a judgment and then enforce that judgment by making your employer garnish your wages.
Although wage garnishment is theoretically supposed to leave you enough income to meet basic monthly living expenses, many people cannot afford to lose the money that is being taken out of their paychecks.
Filing bankruptcy will immediately stop wage garnishment (and may help you get back some of your lost wages). It may also allow you to eliminate the underlying debts.
The moment you file bankruptcy, an automatic stay is placed on all debt collection efforts against you, including wage garnishment.
In Chapter 7 bankruptcy, credit card debts, doctor and medical bills, and most other types of unsecured debt can be discharged permanently.
In Chapter 13 bankruptcy, up to 100% percent of these debts can usually be discharged (eliminated), but sometimes a small portion of this debt may have to be repaid over three to five years.
Protecting Your Social Security and Retirement Savings:
- Social Security payments and retirement accounts generally cannot be garnished to repay most types of debt.
- However, one major exception is tax debt. The IRS can and will garnish retirement funds.
If you are concerned about the IRS taking your Social Security, 401(k) or IRA, we can negotiate with them on your behalf, and we may also be able to eliminate certain older tax debts through bankruptcy.
Contact us to discuss your options with a knowledgeable Bay Area lawyer.
Contact us online or by phone at 510-451-0290 to schedule an appointment.