The bank received an order for garnishment — there goes your savings. Garnishment.
What is Garnishment and How Does it Work?
Garnishment allows creditors to collect unpaid debts by seizing your wages, bank accounts, or other property. In Kansas, creditors typically seek a court judgment before requesting a garnishment order. However, in some cases, they can request garnishment without a judgment, except for wages.
After obtaining a judgment, creditors can request a garnishment order 10 days later. This order is sent to your employer or financial institution, requiring them to withhold money to pay the debt.
How Garnishments Affect Your Finances
Garnishments can disrupt your budget, making it hard to cover daily expenses like rent, groceries, and utilities. Here’s how they work:
- Wage Garnishment:
Creditors can take up to 25% of your after-tax earnings. Employers must withhold this amount and send it directly to the creditor. They can also charge up to $20 in administrative fees per month, which adds to your financial strain. - Bank Account Garnishment:
Creditors can freeze funds in your bank account, including joint accounts. They may take up to 110% of the debt amount, and banks often charge a $10 fee per garnished account.
If you’re already struggling to make ends meet, garnishments can feel overwhelming.
Stopping Garnishments: Your Options
The good news is that you can stop garnishments. Filing for bankruptcy immediately halts all collection efforts, including wage and bank account garnishments. This legal protection, called an “automatic stay,” gives you the breathing room to regain control of your finances.
At Walden Legal Solutions, we help clients navigate bankruptcy with ease. Our virtual services ensure you can take the first step toward financial freedom from the comfort of your home.
Garnishments can create financial stress, but you don’t have to face them alone. If you’re dealing with garnishments or worried about future ones, contact Walden Legal Solutions today. We’ll help you explore your options and find the best path forward.
Connect with us today for a stress-free legal experience!
