Mark T. Young & Associates
Free Initial Consultation:
423-933-1606
888-376-0282(Toll Free)
423-933-1606
888-376-0282
Focused On Your
Financial Freedom

How bankruptcy can help when wages are garnished

Wage garnishment is a legal process. When a Tennessee resident has a job and owes a creditor money, that creditor may be able to secure a wage garnishment against them. If they do, the debtor will see some of their pay removed from their paycheck each pay period and sent to the creditor in consideration of their debt.

Therefore, a wage garnishment can be a major problem for a person who relies on their entire income to make ends meet for themselves and their family. When different creditors seek to garnish an individual's wages, that individual may find that they simply cannot earn enough money to care for their needs. However, filing for bankruptcy can help with this problem because it allows an individual to enjoy the benefits of an automatic stay.

The automatic stay is the process of putting on hold any and all garnishments that may have been imposed against a person's pay. The automatic stay is not permanent and may not last the entirety of an individual's bankruptcy proceedings, but it will stay in place as the debtor works through the liquidation process of Chapter 7 bankruptcy or the reorganization process of Chapter 13 bankruptcy.

Wage garnishment is not the only financial matter that the automatic stay supports. Eviction, foreclosure, and the cessation of one's utilities may all be stopped by filing for bankruptcy and invoking the automatic stay. There are many other financial benefits that readers may enjoy when they file for bankruptcy. To learn more about them readers are encouraged to reach out to their trusted local legal professionals.

No Comments

Leave a comment
Comment Information

Get Started Today

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Contact Information

Mark T. Young & Associates
2895 Northpoint Blvd.
Hixson, TN 37343

Toll Free: 888-376-0282
Phone: 423-933-1606
Fax: 423-877-0363
Hixson Law Office Map