Wage garnishment VS bankruptcy
Written by Jonathan Williams on December 27, 2011One of the most traumatic thing that people has encounter is that their salary is being control by the Internal Revenue Service or their creditor in the form of wage garnishment. Can the creditor or the Internal Revenue Service have the right to get your salary? Although it can be difficult to accept but yes the Internal Revenue Service or any creditors has the right to control your money especially if you owe them some money or taxes.
However there are certain laws that also protect individuals from the greedy creditors or to the Internal Revenue Service. Laws has been passed by the government in order to make sure that not all salaries of every individual will be subjected to a wage garnishment what this means is that only portion of your salary will be deduction in order to pay to your creditors or to the Internal Revenue Service.
You see, without this law (Consumer Credit Protection Act) the creditors or the Internal Revenue Service will get all your salary and leaving you with nothing. That is why; the court must ensure that you can get by if your salary is under a wage garnishment. But, you must remember that practice of wage garnishment vary from the state where you live in because not all state accept wage garnishment or follow the laws on how wage garnishment must be practice.
In order to understand better on how wage garnishment works and how much you will be going to lose if wage garnishment will be ordered by the court:
• As it said, the practice of wage garnishment depends on what state you are in but by law, 25% of your salary must be withhold by your employer in order to pay to your creditor or to the Internal Revenue Service.
• In the case of child support or alimony, 25% or more will be deducted to your salary however the court will be the one to determine if the remaining money on your salary can be able to afford your daily expenses.
• If your salary is under the minimum wage, wage garnishment cannot be happen for the reason that the court will find it difficult for the individual to get by on his or her expenses or basic needs.
Although wage garnishment is the tools that every creditor or the Internal Revenue Service uses in order to collect unresolved taxes or debt there is always a loophole by filing for a bankruptcy. To have a tax attorney that knows the in and out of the system of the government, there is a chance that you can be free from your debt however filing for bankruptcy is not the right move in resolving your debt but if comes to worst then file away. Ask for advice on your tax attorney if bankruptcy is the right move in order to be free from your creditor or to the Internal Revenue Service.

