Its Time You Face the Consequence

You have had never thought that someday you will become a defaulter and face the aftermaths of becoming so. The fact that your finances are pretty low and you don’t have enough funds to repay the amount is least heard by the authorities. All you know is that a storm is coming your way and you have to stand against it. One of the major ways the lender might secure money from you is wage garnishment. It is indeed one of the painful processes where your finances tend to go lower than before because your salary might soon experience a cut.

The lender uses wage garnishment as a methodology to collect the unpaid amount from the borrower in course of which the defaulter will experience a substantial cut from his salary. As per the Administrative Wage Garnishment, you will generally find a 15% deduction calculated on your disposable salary. Yes, your paycheck will be garnished every month. The situation may worsen for you if you have had secured multiple loans from different lenders because your salary will be subjected to a 25% cut.

However the Federal laws are also there to protect your interests through the following ways:

• You will be given the right to inspect any record related to your debt
• You will have the right to plead for a hearing
• You may request for a repayment procedure if wage garnishment has not been issued on you
• No employer should refrain himself from employing you because you are subjected to face wage garnishment.