Ways & How

how to stop a wage garnishment

how to stop a wage garnishment

The financial crisis is global.† Even some big companies have suffered and are downsizing to cut costs.†† If the crisis is felt by bigger companies, it is quite common that individuals will suffer from it too.† Many have debt problems especially with credit card companies.† Although these companies exhaust all options to collect and resort to a wage garnishment only as a last option, it is still legal for them to do so.† There are ways, and how to stop a wage garnishment, and these are worth considering:

  1. Talk to the credit card companies or any of your creditors and donít ignore their notices.† Remember that prevention is better than the cure.† Once they get started with sending notices, they will surely go on and on as per their collection procedures and this can progress to a wage garnishment.† Some credit card companies even sell these bad accounts to collection agencies that are more persistent with collection and might even file a civil case against you.

  2. As soon as matters get out of hand, seek the assistance of financial advisers on debt management.



    † They can offer you options to make things manageable.† They can also help in negotiating with your creditors for the best possible remedy taking into consideration your capacity to pay and the lifestyle you are willing to forego just to solve your debt problem.

  3. Be more frugal with your spending. †Learn to live within your means to avoid deficit spending which leads to getting burdened with debts later on.† As much as possible, avoid incurring unpaid accounts as this will just accumulate further debts considering that creditors charge interest and penalties when you are late in your payments.† Even your current purchases will already be charged interest when you donít pay your credit card bill in full on the due date.

  4. Since a wage garnishment is legal and is practiced in every state, it is best you consult a legal practitioner to assist you on restructuring your accountability.† By showing the willingness to pay and offering options for how you may settle your debts, your creditors will re-consider their main goal is just to collect and not to put you in jail.† Sometimes they can even waive some of the interest and penalties depending on the negotiations.† So it is best to ask the experts to avoid mistakes.

  5. File for bankruptcy.† This can stop a wage garnishment, but do it only as a last resort.† Having filed for bankruptcy can give you some protection from debts but certainly not a good reference point for your future.† You might have the chance to go into a profitable business and will need suppliers later on.† Purchasing on credit will be a big help while you start a business to stretch your funds, but possible creditors will not take the risk when they know you have a history of a bankruptcy.† Good employers can also make a background check and find this out, and it will certainly turn them off as it reflects a lack of responsibility on your part.

When a wage garnishment takes effect, this will not only give you a harder time with your living expenses but also cause an embarrassment to you.† Certainly, your employer will know that you are being negligent with managing your financial affairs, and it will not be a positive reflection on you.† Though they are not allowed to fire you, a second or third occurrence can justify it. Make an effort to learn how to stop a wage garnishment from happening before it is too late.† This can ruin your future.

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