recieved summons from credit card company what legal rights do I have

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recieved summons from credit card company what legal rights do I have

owe @5000 no means to pay can wages be garnished every penny accounted for everyday living

Asked on June 18, 2009 under Bankruptcy Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

IN FL, up to 25% of your wages can be garnished, though only by court order--i.e. after the credit card company and/or their collection agency wins a lawsuit, then files for garnishment. There is an exception--you wages cannot be garnished if you are the head of a household and provide economic support to a child or other dependent. This link may provide more information:

http://www.leg.state.fl.us/STATUTES/index.cfm?App_mode=Display_Statute&Search_String=&URL=Ch0077/SEC041.HTM&Title=->2008->Ch0077->Section%20041#0077.041

Your best bet is to negotiate some settlement with the credit card company--can you reduce living expenses by $3 a day ($21 a week) and arrange to pay at least $80 a month? Credit card companies want their money, but they also are realistic, and they'd rather get paid something or slowly than have to go to the cost of a lawsuit.

If you can't negotiate a settlement you can live with and you have little income and few assets, then bankruptcy is a real option. It will hurt your credit rating, but so does defaulting on a debt; and bankruptcy will at least reduce, if not wipe out, your debt. You should get a consultation with a bankruptcy attorney, if you can find one who will give you a free consultation, explain your situation in detail, and explore your options.


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