Wage Garnishment Options in Oklahoma include bankruptcy or repaying the debt. If you have been sued for an outstanding debt, chances are your creditors will be looking to get their money. They sometimes do this by taking it directly out of your pay. This is known as wage garnishment. Having your wages garnished can leave you in a situation where you are financially unable to support yourself. Because garnishment typically requires a court order, your creditor will likely need to go through the legal process. After do this they can successfully take money from your check. Still, you have options on how to protect your hard-earned money. While it is not recommended that you attempt to duck out on your bills, there are options. You can do this while also allowing you to provide for yourself and your family.
Enforcing a Garnishment and Judgement
Once the creditor gets their judgement they don’t simply sit on it. In the case that your payroll check is unavailable to be garnished they have other options. Creditors can take the judgement and enforce it against any property that you have. This includes bank accounts, tax returns or any other property they can find. If you own a house or other personal property they can attach a Lein to the title. Although the creditor cant move you out of the home the lien will be enforced if you sell the property or against your estate in a probate case.
Chapter 7 Bankruptcy
One of the best wage garnishment options is filing a chapter 7. The decision to file for bankruptcy is not one that you should make without careful thought and consideration. The negative remarks on your credit report that typically come with a bankruptcy filing can affect your life in the near term. So, it is always recommended that you consult with an experienced attorney before you file. Still, filing for Chapter 7 bankruptcy can stop your wages from being garnished. You must understand that there is no guarantee that filing for bankruptcy will not prevent all forms of garnishments. It will, however, delay it until you can make other arrangements. In most cases, you will be able to have the debt wiped out completely. But in the case of child support garnishments and a few other debts the bankruptcy will only delay the garnishment.
Chapter 13 Bankruptcy
Another one of the wage garnishment options is filing a chapter 13. This form of bankruptcy works similarly to Chapter 7 in that once you file, it may place a temporary stop to any collection efforts. What this means is that filing for Chapter 13 may temporarily stop your wages from being garnished as your bankruptcy case progresses. Because Chapter 13 typically involves a repayment plan, you may be able to include the unpaid balance that your creditors are seeking to take out of your pay in your repayment plan total amount.
You will then be required to make monthly payments on your overall debt. Repayment plans under a Chapter 13 filing typically last three-to-five years. A chapter 13 is used mainly to stop a foreclosure and allow you to set up a repayment schedule on your home. Another reason people file chapter 13 is that their income is to high to qualify for chapter 7.
For both Chapter 13 and Chapter 7, the freeze on your wages being garnished is only temporary. Your creditor may be able to petition the court to have the freeze lifted under certain circumstances. Additionally, unless the debt has been discharged (eliminated), your creditor may be able to restart the wage garnishment once your bankruptcy case is complete.
If you have received notice that a creditor is attempting to garnish your pay, then you may want to take steps to ensure that you protect yourself before it is too late. Some creditors may be willing to work out a payment arrangement instead of going after your wages. To be sure, state law may prevent a creditor from taking more than a certain maximum amount of your pay each payment cycle. Consulting with a bankruptcy or consumer protection attorney is recommended to become aware of the options available to you. Remember, an attorney can advise you on the best course of action. Regardless, even if the garnishment is in place once you file a bankruptcy the garnishment ends and so does the debt that allowed them to garnish your pay.
Oklahoma Bankruptcy Lawyer
Wage garnishment is a complex process. Fortunately, bankruptcy can get get you out from under the creditors thumb. Although the road that lead you to bankruptcy may have been stressful the truth is that bankruptcy is a wonderful solution to your finical problem. Once you reconcile the fact that bankruptcy works for you the process from there is straightforward. If you are facing financial difficulty give our Tulsa bankruptcy attorneys a call for a free consultation at Kania Law Office (918) 743-2233 or contacting us online.