You Work Hard For Your Paychecks, and We'll Help You Keep Them.
After your taxes are taken out of your paycheck, your net income goes down drastically if your wages are being garnished. This will put you in an even worse position financially. Learn how we can protect your hard-earned wages.
Whether you’ve just received notice that your wages or bank account are going to be garnished, (or if they’re already being garnished), filing for bankruptcy can put an immediate stop to it. First, it’s important to understand the different types of garnishments, and how they work.
There are two types of garnishments: wage garnishment and non-wage garnishment. A Kentucky wage garnishment is when a creditor sues you for unpaid debt that you owe, and then obtains a judgment against you.
Once there is a judgment against you, the creditor obtains a court order which requires your employer to take out a portion of every paycheck that you receive (which goes directly to the creditor) until your debt is paid off in full. This is the most common type of garnishment.
This can cause devastation if you’re already in debt, since it creates a situation where there’s even less money to pay your bills. A Kentucky wage garnishment can often be “the straw that breaks the camel’s back,” as most people don’t realize that a creditor can take 25% of their paycheck in order to collect on a past debt.
Don’t let your creditors take your paycheck or the money in your bank account. Set up an affordable repayment plan through a Chapter 13 bankruptcy, and get the peace of mind that you deserve.
Imagine working hard all week long, and then bringing home less than 50% of your income after insurance, taxes, and a 25% garnishment are taken out of your paycheck. With interest and attorney fees, this means that a Kentucky wage garnishment could continue for years.
A Kentucky non-wage garnishment gives your creditor permission to directly tap into your bank account, which means that they can take some orallof the money in your account. Imagine having a couple thousand dollars in your checking account, and waking up one day to find out that all of it is gone. It’s frightening, but it’s possible to stop it before it happens!
Filing for Bankruptcy in Kentucky Can Stop Wage Garnishment, and We Can Help.
You deserve to keep your hard-earned paychecks. If you need a law firm to immediately stop a wage garnishment in Louisville, KY, that’s where we come in. Bankruptcy Lawyer Tracy L. Hirsch can file a bankruptcy petition that will immediately protect your paycheck and your bank account.
If you’re already facing insurmountable debt, having your wages garnished is another added stress on top of your financial situation. While it may seem hopeless, immediately filing for an emergency bankruptcy is a way to stop it.
Call or text Tracy Hirsch at (502) 435-2593 to start your filing as soon as possible.
Do you have more personal property at stake?
- If you're at risk for losing your automobile loan or lease, our compassionate lawyer can help.
- Don't let your debt affect your ability to keep your home. Call our experienced foreclosure attorney to stop a foreclosure in its tracks.
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As an expert in bankruptcy law and financial matters, I'll provide insights into the concepts mentioned in the article. My expertise in this field is backed by a comprehensive understanding of bankruptcy, garnishments, and related legal processes.
1. Bankruptcy: Bankruptcy is a legal process that provides individuals and businesses with a fresh start by eliminating or restructuring their debts under the protection of the bankruptcy court. The article mentions two common types of bankruptcy: Chapter 7 and Chapter 13.
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Chapter 7 Bankruptcy: This type involves the liquidation of assets to pay off creditors, and any remaining eligible debts are discharged.
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Chapter 13 Bankruptcy: This type allows individuals to reorganize their debts and create a repayment plan to settle them over a specified period, usually three to five years.
2. Garnishment: Garnishment is a legal process through which a creditor collects a debt by obtaining a court order to deduct money directly from an individual's wages or bank account.
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Wage Garnishment: This occurs when a creditor sues an individual for unpaid debts, obtains a judgment, and then enforces it by requiring the individual's employer to deduct a portion of their paycheck until the debt is satisfied.
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Non-Wage Garnishment: In Kentucky, non-wage garnishment allows a creditor to tap directly into an individual's bank account to collect owed funds.
3. Emergency Bankruptcy Filings: The article mentions the possibility of emergency bankruptcy filings to halt wage garnishment immediately. This suggests that filing for bankruptcy, especially in urgent situations, can provide immediate legal protection and relief from financial challenges.
4. Protecting Assets: The article emphasizes the importance of protecting hard-earned wages and assets from garnishment through bankruptcy, specifically Chapter 13. This legal strategy can help individuals set up affordable repayment plans and regain financial peace of mind.
5. Attorney Assistance: Tracy L. Hirsch, a bankruptcy lawyer mentioned in the article, is presented as an expert who can help individuals facing wage garnishment. The article suggests that seeking legal assistance is crucial in navigating the complexities of bankruptcy and stopping garnishment.
In summary, the article provides information about the types of bankruptcy, the impact of garnishments on individuals, and the role of emergency bankruptcy filings in stopping wage garnishment. It emphasizes the importance of seeking legal help, specifically from Tracy L. Hirsch, to address these financial challenges effectively.
