Facing wage garnishment can be scary. Although there are limits to how much money your creditors can take from your pay check, losing out on any of your wages can be difficult when you are already struggling to make ends meet. While you may currently be battling feelings of anger and frustration, you also need to consider the possible solutions to your problem. For many people, bankruptcy is a viable tool to help them stop wage garnishment. Read on to discover a little more about how bankruptcy can assist you in halting the wage garnishment process.
- The Automatic Stay:
- As soon as your bankruptcy petition is filed, the courts will grant you an automatic stay. During this time period, your creditors must cease all collection efforts on your accounts until there is a decision on your case. Fortunately, this automatic stay includes wage garnishments, which means you can often stop the garnishment process if you file for bankruptcy in a timely manner.
- Debt Discharge:
- In a successful bankruptcy case, much of the consumer’s debt is usually discharged when the case is closed. Once this debt discharge takes place, your creditors will not be allowed to go after you to try to recover any of the money they lost. Consequently, bankruptcy can be one of the best tools you can use in your quest to Stop garnishment or levy of your wages.
- Recovering Lost Wages:
- Many consumers are not aware that it may be possible for them to recover some of the wages they lost when their wages were garnished prior to filing the bankruptcy petition. If your exemptions are sufficient to cover your lost wages and you have had more than 600 dollars garnished in the last 90 days, filing for bankruptcy may be able to help you get your money back.
If you want to stop the wage garnishment process in its tracks, bankruptcy can help you do so. However, it’s recommended that you act fast. If you’ve found yourself in this unfortunate situation, don’t wait to talk to a qualified attorney about how you might be able to get out of it with the help of a bankruptcy petition. An attorney will carefully review the details of your case and give you the proper guidance you need in order to finally get on the path back to financial freedom and Stop garnishment or levy of your wages.