I received a notice that a collection agency is filing for a wage garnishment against me. I understand that if a judgement is awarded, they can receive, in illinois, the lesser of 15% of my disposable income OR my disposable income minus the minimum wage X 45. However, since my disposable income is less than $371.25 per week, they cannot garnish my wages. But can they garnish my husband's wages? What about money in our joint account or is it only my employment wages that they can attempt to garnish?
Only your wages can be garnished, if not esxempt.
Money in a joint account is prima facie 100% owned by the judgment debtor. The account holders can prove otherwise. It might be a good idea to have separate accounts and put money belonging to each person in their own account. Also, there is a $4000 "wildcard" applicable to the funds in a bank account (or any other asset).
Your husband's wages are immune. The joint account is not. Mr. Edelman is correct. Stop depositing your husband's wages into the joint account. Good luck to you and your husband
You are correct that you should be able to take home up to $371.25. Even though your wages are safe the judgment creditor can add it cost to the judgement.
A judgment creditor can garnish both you and your spouse at the same time.
A fuller explanation is in my blog as follows:
A judgment creditor can garnish both wages and bank accounts at the same time.
An individual has a $4,000 exemption. Presumably if the money comes from both you and your spouse you may have a $8,000 exemption.
A fuller explanation of bank garnishments is as follow:
Hope this helps
Robert Adams: offices in Chicago and Waukegan
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