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can my wages be garnished? i owe two banks and no money to pay. i work 20 hours a week and on social security
Houston, TX
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Posted 5 months ago in Debt Collection
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where do i see my answer. i tried to pay on these cards but the interest went
over my income. they deniede me to continue to pay. they told me they didn't have to accept what i wanted to pay in which they agreed upon in the beginning. i paid a long time on these 2 cards. should i go bankrupt???? - Is this your question? Add additional information Answers (1)
Chais L Sweat
This attorney is licensed in Texas.
Posted 5 months ago.
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It depends. When you say you had two cards from banks, do you mean credit cards?
In either case, in Texas, a creditor cannot garnish your current wages. There are a few exceptions such as child support. However, once your wages are distributed from the employer to you, they lose their exempt status. A creditor must have the court's permission to garnish funds from a bank account, and must have a compelling reason for doing so, and must have exhausted all other efforts to satisfy the debt. This usually means that they cannot garnish funds from a bank account until there is a judgment in place. There are many other consequences to not paying on your cards, including a damaged credit rating, increase in interest rates and fees, and a possible lawsuit filed against you, just to name a few. I cannot say whether or not you should file for bankruptcy. You will need to speak to an attorney and have all your financial information, including a list of assets and liabilities as well as income statements available. Even then, the answer will depend on your personal goals and future financial plans. |
