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What Is Garnishment?
Garnishment is a legal process that allows your creditors to collect money directly from your paycheck. Your creditor can get a court order that requires your employer to withhold a certain amount of your wages until you have fully paid off the debt.
In Illinois, the Consumer Credit Protection Act limits the percentage of a debtor's wages that can be garnished. However, any amount of wage reduction can make it difficult for people with rocky finances to pay their regular living expenses, let alone their other debts. If you're already struggling to pay your bills, you don't need a calculator to figure out it will be even harder to settle them when you're taking home less money.
How To Stop a Wage Garnishment?
One of the most common forms of defense is to file for an Illinois Chapter 7 or Chapter 13 bankruptcy. Once you file a bankruptcy petition and the required forms in court, the judge will issue an automatic stay that forbids your creditors from contacting you or taking any other action to try to collect on the debt.
The stay prohibits:
- Wage deductions benefiting your creditors
- Illinois foreclosure
- Repossessing your vehicle or personal property
- Filing lawsuits
- Threatening phone calls
- Harassment by bill collectors
While many people fear they will have to give up their possessions if they file for bankruptcy, DebtStoppers clients rarely lose a single thing. Chapter 7 or Chapter 13 can allow you to keep your possessions, stay in your home, and stop deductions from your paychecks. Call or text today, and one of our seasoned attorneys can help you determine the best course of action for your situation.
Laws in Illinois
Federal law limits how much your creditors are allowed to garnish from your wages. These laws exist to ensure that debtors have enough income left to pay for their living expenses, although they are not always successful in this goal.
Illinois bankruptcy laws impose even stricter limits. Your employer can only deduct from your "disposable income," which is the amount of money you earn after taxes and other mandatory deductions are taken out. Under Illinois law, the most an employer is allowed to deduct from your paycheck is the lesser of the following:
- 15% of your gross wages
- The remaining disposable earnings after deducting an amount equal to 45 times the Illinois minimum wage
How To Avoid Wage Garnishment?
If a creditor is threatening you with wage garnishment, contact DebtStoppers to schedule a free, no-obligation consultation. Our skilled Illinois lawyers can help you decide if filing for bankruptcy is the best way for you to get out of debt.
DebtStoppers is Illinois’ largest debt relief law firm. And the only one that will file your Chapter 7 and stop paycheck deductions for no money upfront. We even advance your filing fee, so you can stop wage garnishment immediately. Keep your hard-earned paycheck. Call or text DebtStoppers now at 312-913-0630.
