Stopping Garnishments in Long Island
Understanding Garnishments
An extremely invasive method, garnishment is the last resort for creditors who seek the opportunity to collect your payment. It involves a creditor obtaining a court order to retrieve property or wages that are held, not by you, but by a third party. Of course, depending on the specific state law, taxpayers can be protected from garnishments to a certain extent.
In the state of New York, the maximum amount that a creditor can gain from your third party is ten percent of gross income, or the federal maximum depending on which is of lesser value. If the reason for garnishment is based off of maintenance, support or alimony, only twenty-five percent of disposable earnings can compensate the combined garnishments without exceeding. The income execution process begins with the sheriff, who presents the execution at the individual's primary place of residence. If payments are not made within the allotted 20 days, the sheriff then levies on the individual. Oftentimes, the property that is considered valuable for levy may be your wages, bank accounts, or a vehicle in your name. If you have been subject to garnishment, it is imperative that you contact a Long Island tax lawyer immediately.
If creditors do not receive payments from you, they will go to a court to receive judgment on whether collecting your payment is permitted. In the court order, a designated amount and interest rate will be set, along with a potential summons to the court that you are required to attend.
Protect Yourself With the Right Tax Attorney in Long Island, NY
There are potential solutions to consider before filing for Chapter 7 or Chapter 13 bankruptcy. Feeling anxious or worried about being faced with a garnishment is completely natural, but there is no reason to give up hope. Blutter & Blutter is devoted to exploring every avenue of recourse to find the best solution for your circumstances. With over 50 years of experience in stopping garnishments and other tax law issues, the firm will not rest until you have been granted relief.
Facing a garnishment? Don't hesitate to contact a Long Island tax lawyer to discover your options.