Incredibe Tips That Are Going to Help You Avoid Being A Victim of Wage Levy
A wage levy or garnishment is whereby a creditor decides to collect the amount of money you owe them from your salary through your employer after you have failed to comply with the payment plan that you had formally agreed on. In some cases such as a divorce, a parent may fail to offer child support and in that case a wage garnishment can be applied. With those being some of the reasons, this is not the kind of thing that you have control over and you may find that most of your salary is going to the creditor and you are only left with a small portion of your salary. This means that you will not be in a position to lead your normal life especially if the job is your only source of income and you have dependents that are looking up to you. It good to have a good payback strategy once you have borrowed some money from creditors. Here is more info on how to evade tax garnishments.
You may want to ask for more time to be able to raise money to pay your debt. The amount of time that you get is roughly one hundred and twenty days and this amounts to four months. With this time, you are in a position to come up with ways of settling down your debt. While you ask for more time, you can also request that you be allowed to pay the money in small quantities based on the amount that you and the creditor will agree. Once you agree to pay the debt in installments, you are given a period of time by which you should have completed depending on the amount of money that you owe the creditor. Failure to paying the full amount of money by the stipulated time will automatically trigger a wage garnishment and this is not very good if all you depend on is your salary. For more info on wage garnishment, click here.
Another thing that you can do to prevent a wage garnishment is to file for bankruptcy as this gives you immunity from debt collectors as the court has already declared you bankrupt. You can read more on the internet for more info. You may want to read on how to go about non collectable status on the internet for more info. Spouse relief is something else that may save you from wage garnishment. This is a way to prove that you are no longer together and that one is responsible for paying their own taxes and this highly reduces the chances of having a wage levy. Read here for more info on how to avoid a wage levy.
If you did not receive a warning before the levy warrant, you can tell the debtor that you did not receive a warning and you may require more time. Calling them or writing to them about an error in receiving of the message may buy you some time. For more info on tips to help you avoid wage levy, ensure you read here.
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