Bankruptcy Can Put a Stop to Wage Garnishment for Atlanta Debtors
What if you worked hard all week, only to find that someone else was using your paycheck?
It sounds like a bad dream, but it's a real-life scenario for a growing number of Atlanta debtors who have become subject to wage garnishment - an occurrence that's increased 55 percent in Atlanta since 2004, according to the New York Times.
It starts when a bank sues you for failing to pay your credit card balance. If you don't defend yourself - either because you're intimidated, unable to afford legal representation or are simply unaware you are being sued - the bank can get legal permission to dip into your paycheck. But there's good news: even if you're already handing over wages against your will, you might still be able to take back control of your money with bankruptcy.
If you let banks have their way, you might not have enough money to eat, let alone pay your debts. Up to one-quarter of your income can be seized for each debt, whether its credit card, medical bills or tax debt.
Bankruptcy might have the power to stop it. The very minute you file for bankruptcy, a legal action called the automatic stay goes into effect. This automatic stay stops creditor actions immediately, from foreclosures to lawsuits to wage garnishments.
Not only can bankruptcy help you regain control of your wages, it can also give you access to an affordable way to pay down or discharge the debt that got you into trouble in the first place. Interested? Try a free personal debt analysis with one of our Atlanta bankruptcy attorneys. We can identify the best way for you to lower your debt payments. So you can stop stressing and start saving.