If you are on the other side of a debt collection call, I've heard all kinds of threats from people trying to collect debt. Creditors can take money from your salary? How much and how much? These are the plans to answer in the first part of this article series.
It is also planned to consider whether collecting agencies can obtain funds from bank accounts, regardless of circumstances specific to military members and whether creditors can receive social security and retirement payments So be sure to check!
Claims collection process
- Some states do not allow certain types of debt collectors to collect salaries. Countries that do not allow "commercial debt amortization" (credit cards and other commercial based companies) such as Pennsylvania, Texas, North Carolina, South Carolina,
- If a state allows you to pay warrants, the company must first sue the obligor. why? In order for the company to make progress by taking wages, the court needs to make a judgment. If the court does not control for creditors, wages will not be taken.
What would happen if the court supported the collecting agency? The specific percentage to which creditors are legally allowed is determined. After that sentence is prepared the collecting company will arrange with the employer to withdraw that proportion directly from your salary.
How long can they take?
It is a general guideline that will help you understand what happens if the judge determines that it is advantageous for the debtor. (These rules vary from state to state, so please check your state rules)
- Under federal law, 25% of the disposable income (remaining after taxes and other obligations have been paid) or 30 times more than the federal minimum wage (less less will be deducted), medical expenses, student loans, And the type of debt like credit card balance. Each province has specific laws on this topic, so please check your state legislation.
- In some states, the total salary can go to the unpaid state tax balance. In other words, if you owe a tax on your state, you can collect your full salary until that amount is paid.
How long will it last?
Whether a creditor has the right to pay your wage depends on the court's ruling and the country you live in until your debt is paid out completely. Interest generated.
In other states, the creditors can collect wage funds only for 60 to 90 days. In some cases, the creditor may submit another court decision at the expiration date, so it may exceed 60 days or 90 days.
Some quick tips
What can you do to avoid court and wage charges?
- Please do not ignore your debt collector. Please arrange transactions in response to the phone or help with negotiations by discussing with experienced lawyers.
- Please note the time when you talked with the creditor and the person's name or employee ID number.
Has the judgment been issued?
If you have already received a court order for wage charges, you may be able to include objections to that ruling. Depending on the specific case, you can use other options. If you are facing a daily debt collection call, do not know what to do, or if you are already receiving decorations, please contact an experienced lawyer in your country.
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