What is a Wage Execution?
How Does a Wage Execution Work?
Let's say John Doe has stopped paying child garnishment, whereby the court seizes a portion of John's monthly paycheck and automatically gives it to his ex-wife.to his ex-wife. His ex-wife takes him to court for the owed and obtains a
Wage execution is often used to recoup judgments, and the courts have the ability to garnish not just wages, but bonuses, commissions, pension income, and distributions from retirement plans. Welfare, , veterans benefits, social security income, workers compensation and child support payments generally cannot be garnished., delinquent child or
The ConsumerProtection Act prohibits employers from firing employees because their are being garnished, though there are some exceptions.
Why Does a Wage Execution Matter?
Wage executions generally require a court order, and they can destroy a person's credit rating. It is important to that not all things can be garnished; state laws set forth the exemptions. Usually, state laws prohibit garnishing a person's assets to the extent that they leave the borrower with no way to himself or herself.
Personalized Financial Plans for an Uncertain Market
In today’s uncertain market, investors are looking for answers to help them grow and protect their savings. So we partnered with Vanguard Advisers -- one of the most trusted names in finance -- to offer you a financial plan built to withstand a variety of market and economic conditions. A Vanguard advisor will craft your customized plan and then manage your savings, giving you more confidence to help you meet your goals. Click here to get started.
Read This Next
When I first decided that these super-popular investments...Read More →
Looking for a high-yield investment that is also designed to protect you from...Read More →
Marketing jargon seems to permeate every aspect of our lives. In fact, getting pressured into buying seemingly valuable products you don't really need is a long-standing way of doing business in...Read More →
Every year 3.5 million degrees are handed out to US students after they've completed their education coursework according to the U.S. National Center...Read More →