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Credit Card Debt, Wage Garnishment, and YOU
When it comes to child support or unpaid taxes, wage garnishment is a tactic that is utilized by every state in the union. But when it comes to wage garnishment for debts owed to creditors, the laws vary in how restrictive they can be. Some states don’t allow creditors to garnish debtors wages at all. But what about here in Florida?
In Florida, credit card companies can garnish your wages for unpaid credit card debts. However, some specific rules and exemptions apply. Generally, wage garnishment occurs when a credit card company sues you for outstanding debt and wins a judgment against you. After obtaining a judgment, the creditor can seek to garnish your wages to collect the debt you owe.
Florida law provides some protections for consumers regarding wage garnishment. For example, the head of a family may have certain exemptions that limit the ability of creditors to garnish wages. Specifically, if you provide more than half of the support for a child or other dependent, you may be exempt from wage garnishment for debts other than child support, alimony, taxes, and federal student loans.
Furthermore, under federal law, there are limits to how much can be garnished from your wages. Creditors can garnish the lesser of 25% of your disposable earnings or the amount by which your weekly wages exceed 30 times the federal minimum wage.
It’s important to note that these protections and exemptions do not automatically apply; you may need to claim them. Additionally, certain types of income, like Social Security benefits, pensions, and veterans’ benefits, are generally protected from garnishment for credit card debt.
If you’re facing potential wage garnishment or are concerned about your rights and options, it might be beneficial to consult with a legal professional who understands debt relief and bankruptcy law in Florida. We can provide guidance specific to your situation and help you understand the best course of action. Contact us today to set up a free consultation, and we can discuss a debt relief plan that works best for you.