Can Credit Card Companies Garnish Your Wages

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Are you wondering, can credit card companies garnish your wages? Well, there have been cases wherein credit card companies have garnished wages. But don’t worry to much about this yet, you just have to know how this works. See the article below for more info.

Credit Card Wage Garnishment – Can Your Credit Card Company Garnish Your Wages?

Garnishment is a term that refers to the ability of a creditor to take money out of your paycheck to fulfill a debt obligation that you have to them. In the case of a credit card garnishment, the credit card company, for example, Visa or MasterCard, can decide that they want to collect money that you owe them by presenting your employer with an order to take money out of your paycheck until the debt you owe is paid off.

How does this process work?

In most cases, once you default on your loan, your credit card company will send you a notice that you are in default of credit card terms and for non-payment of debt. The company cannot decide in an instant to garnish your wages. They have to sue you and get a court judgment against you. This means that you will get a notice to appear in court to defend yourself against the charges. An example defense maybe that debt is not yours or that you don’t owe as much as is being claimed.

The biggest mistake some people make is that they never show up in court. They assume that the credit card company will automatically win and throw their hands up in the air.

If your creditor is able to get a judgment against you, then garnishing your wages is most likely the next step. Your employer will be sent a notice to take money out of your paycheck until the debt is paid in full.

Ask and get answers to wage garnishment at the Wage Garnishment Forum at http://www.wagegarnishmentforum.com

Article Source: http://EzineArticles.com/?expert=Tracy_Schmidt

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can credit cards garnish your wages

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