When experiencing financial difficulties, debt can accumulate quickly and often becomes overwhelming. If your financial hardship gets to the point that you can no longer pay your bills, those creditors may seek a judgment in the Georgia courts to get you to pay what you owe. If they are able to get a judgment against you, they will be able to get a portion of your paycheck or bank account to satisfy your debt, which is known as wage garnishment.
Atlanta Wage Garnishment Help
Wage garnishment can lead to further financial difficulties as judgment creditors can take up to 25% of your net paycheck until your debt is paid off. If the garnishment has to do with child or family support, up to 50% of your net pay can be taken. This is a particularly stressful way to repay a debt because it exposes your financial situation to your employer and can cause you to fall behind on other bills or family expenses. It takes the control of your money and financial situation out of your hands.
However, filing a Georgia bankruptcy offers a solution to ending stressful wage garnishments and much more. When you file a bankruptcy in Georgia, any legal action against you, including any wage garnishment sought by creditors, is stopped by the bankruptcy action. This aspect of bankruptcy is known as an “automatic stay.” So, from the time you file your bankruptcy and the “stay” goes into effect, creditors cannot continue to try to collect your debt and their garnishments must stop while you work out your bankruptcy. This means it also stops your creditors from harassing you for payments via phone calls, letters, or debt collectors.
No one wants to feel as if their financial situation is completely out of their control because of wage garnishments. Filing a personal bankruptcy helps to put the control of your finances back into your hands. It helps to immediately stop wage garnishments, allowing you to keep your financial situation private and prevent falling behind on other payments. Bankruptcy can give you a chance to regroup by seeking expert advice on how to move forward from a place of financial difficulty toward a place of financial security.
Do You Need Help Stopping Wage Garnishment?
It is certainly much easier to get into debt than to get out of debt. Even one financial crisis such as losing a job, being injured in an accident, or going through a divorce can result in debt problems that can be overwhelming. However, remember that even if you are currently facing wage garnishment, there is help available.
A Georgia bankruptcy is designed both to give you a fresh start and pause any garnishment so that you can regroup, regain control of your money, and recover from a financial crisis. The experienced bankruptcy attorneys at The Ballard Law Group are ready to help you make a plan to rebuild your credit and improve your financial well-being. To schedule a free bankruptcy consultation call our office at (404) 800-9939.