VIRGINIA’S PREMIERE BANKRUPTCY LAW FIRM • VIRGINIA BEACHRICHMONDNEWPORT NEWS1-800-662-8813

Living under the threat of Garnishment?

Creditors and collections agencies will freeze your bank accounts and take 25% of your wages.

Get a free Garnishment consultation today.

We will verify if you are at risk of garnishment and assess the threat quickly.

Protect your money, family and future.

Our affordable bankruptcy programs protect your wages and savings.

GARNISHMENTS: AN INTRODUCTION

A garnishment is the legal process of recovering the funds due a creditor based on a judgment entered by the court.  In laymen’s terms, you owe some money. They sued you. Now the can use the court’s power to involuntarily collect the amount owed by issuing a garnishment summons to your bank or employer to withhold the money. Bank garnishments are generally more of a problem because the can freeze all the funds in any account attached to your social security number. This includes money in a joint account with your spouse or parents.

Wage garnishments under Virginia law can only withhold 25% of your income. In the case of both a wage and bank garnishment, the funds are withheld by your bank or payroll service or department and sent to the court that issued the garnishment.  The court holds the funds until the court date on the garnishment summons, which is also referred to as the “return date”.

CHAPTER 7 BANKRUPTCY

The power of a Chapter 7 bankruptcy is the permanent elimination of unsecured debt. As with the Chapter 13, it also has the powerful ability to immediately stop legal actions such as repossessions, foreclosures, lawsuits, garnishments and liens. Qualified debt will be eliminated forever. There are several categories of debt that are not eliminated by Chapter 7 such as child support obligations, student loans, criminal restitution, and some taxes. To determine the advantages and disadvantages of a Chapter 7 for you schedule a free consultation with one of our attorneys.

CHAPTER 13 BANKRUPTCY

Chapter 13 allows a “wage earner” or working individual to set up a court-supervised plan to repay debt. Most commonly used to halt a foreclosure and repay missed mortgage payments while also restructuring other debt, Chapter 13 is a powerful tool in helping financially distressed individual keep their home and recover from financial setbacks. The Chapter 13 plan also has the ability to extend the time of repayment of debt and is general structured over a three to five year period.

OPTIONS AVAILABLE TO INDIVIDUALS FACING GARNISHMENT

Use Virginia Law To Protect Your Money

Virginia law provides special protection for income such as unemployment, social security, child support, etc.  There is also some protection for wage income.

Bankruptcy Protection

If you are being garnished your credit is already hurting from the missed payments and lawsuits. Bankruptcy is a powerful tool to stop a garnishment and eliminate debt.  You have to act quickly.

Settling The Debt

Payment of the judgment will, of course, stop all collection actions.  However, most people don’t have the funds to pay in full.  Generally, a creditor will not accept payments once a garnishment is in place but it is worth a call.

IS BANKRUPTCY RIGHT FOR YOU?

Considering bankruptcy can be a confusing and emotional process. This process is often filled with misinformation. We have helped thousands of people just like you work through that process. We are here to help you too.

SHOULD YOU CONSIDER BANKRUPTCY?

Did you know, the three main causes of bankruptcy is divorce, severe illness and job loss? Many people are afraid of bankruptcy because it seems like an admission of failure. Nothing could be further from the truth.

OUR VIRGINIA BANKRUPTCY LAW OFFICES

VIRGINIA BEACH, VIRGINIA OFFICE
621 N. Lynnhaven Road Virginia Beach, VA 23452 (757) 340-4070
NEWPORT NEWS, VIRGINIA OFFICE
11815 Fountain Way, Suite 300 Newport News, VA 23606 (757) 599-9099
RICHMOND, VIRGINIA OFFICE

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