When someone is struggling to make ends meet and living paycheck to paycheck, debts often keep mounting up. Trying to keep up with mounting debt is difficult enough—add to it a lowered paycheck because of wage garnishment and Maryland residents can really find themselves in a bind.
A wage garnishment is when the court orders that a certain portion of one’s earnings be held and sent straight to the person to whom the money is owed, the creditor, until the debt is resolved. They can be withheld to pay credit card debt, student debt, mortgages, or taxes or even child support. Almost all types of debts can be eligible for wage garnishment. According to some reports, more than seven percent of people across the country have had their wages garnished. Consumer debt load and student debt were among the top four reasons of garnishment.
The good news is that wage garnishment rarely happens suddenly—several legal steps take place before it reaches this point. This means that there are steps debtors can take to avoid it. It is usually the last step creditors take when a debt is not paid off.
Your options when facing wage garnishment
One way to put an end to wage garnishment and creditor harassment generally is by filing for bankruptcy. Bankruptcy also puts an end to foreclosure proceedings and some forms of bankruptcies let debtors to keep their home to a certain value. Those who are frustrated by constantly making minimum payments, knowing they are increasing the principal debt but unable to pay it off, may want to consider consulting an experienced attorney to discuss their options.