What is the highest percentage a credit card can take out of your check once a judgement is in order?
Answer:
they can sieze the whole thing
The law sets the maximum amount that may be garnished in any workweek or pay period, regardless of the number of garnishment orders received by the employer.
For ordinary garnishments (i.e., those not for support, bankruptcy, or any state or federal tax), the weekly amount may not exceed the lesser of two figures:
25 percent of the employee's disposable earnings, or
the amount by which an employee's disposable earnings are greater than 30 times the federal minimum wage (currently $5.15 an hour).
Please note that disposable earnings is equal to gross pay minus necessary deductions such as federal, state, and local taxes as well as FICA & Medicare withholdings as well as withholdings for employee retirement systems REQUIRED by law.
In most states, it is 25% of your check, after taxes. However if you have child support or an IRS/tax levy, those have priority. If you would happen to have another garnishment put through against you, the first one would run for 6 months, then the next one. If you just have the one, it will run until the judgment is paid.
Now if they levy your bank account or if you work on commisions and contracts, they can take the entire amount that is in your account or the entire amount that is owed to you.
And all the while this is going on, there are court costs and interest racking up.
Your best bet is to try and pay it off before it gets to the garnishment phase.
Good Luck!
the lot unless you negotiate
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