f II found out that I do not make enough for a wage garnishment, what should I do next?

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f II found out that I do not make enough for a wage garnishment, what should I do next?

I only make $330 twice a month and have 2 children. My husband is retired Navy, in school, receiving retirement pay and 80% disability pay. We have separate accounts. It was a credit card debt. My judgement principal is now $3,109and I have already paid $2,420 of the original, leaving only $689. They added interest of $3,708 with $110 extra in fees

Asked on July 11, 2012 under Bankruptcy Law, Virginia

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If your employer is served with a wage garnishment you need to file a claim of exemption as to it with the court and serve it on the judgment debtor.

I suggest that you consult with an attorney that practice sin the area of consumer debt law in that the added interst to the judgment against you under state law may be excessive. If your debt is for a credit card debt, the judgment creditor cannot charge you the credit card interest rate such as 18% per annum.

The judgment against you is the legal rate per statute for accrued interest. For example, the rate on a judgment unpaid is 10% per annum.

From what you have written, I have a strong suspicion that the judgment creditor is improperly assessing you fees and too high of an interest rate on the unpaid principle balance of the judgment you have written about.


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