It’s commonly said that denial is the first of five stages of grief. In the midst of unfathomable loss, many people find themselves in a state of total numbness. Denial makes it possible to survive.
As a bankruptcy lawyer Memphis TN trusts, denial is a common theme in my work as well. First, let’s be clear, people who are struggling with significant debt may be working through their own kind of grief. After all, the terms of their lives have changed.
Many people avoid filing bankruptcy out of not only fear, but also denial. If that’s you, you are not alone, and it’s understandable. Sometimes it’s easy to talk ourselves out of what’s right before our eyes. But as much as we may want to believe debt will work itself out on its own, I’ve never seen that to be the case, sadly.
Bankruptcy is a Quick, Simple Solution to Wage Garnishment
Wage garnishment is when a creditor collects what you owe by deducting up to 25% of your paycheck. There’s a process in place that allows them to do this backed by the power of the law. First, they must sue you and obtain a money judgment. The court can then issue an order that will be forwarded to your employer, instructing them to withhold a certain amount from your paycheck. Wage garnishment can cause lots of embarrassment, stress, and anxiety in the workplace. It pains me to watch it happen because I know that it could be easily avoided with bankruptcy.
A Chapter 7 or Chapter 13 bankruptcy can help end your wage garnishment. In a Chapter 7,
bankruptcy’s automatic stay prevents collection efforts during your case. I often talk to people who want my help negotiating a payment plan for a debt already in, or soon to be in, garnishment status. This is not an effective way to pay off the debt. Even if you make all the payments on time for five years, you will likely not be on your path to financial freedom at that point. There are constantly building interest and attorney fees, and you will likely still find yourself immersed in debt.
Get Help From a Bankruptcy Lawyer Memphis TN Trusts
As a bankruptcy lawyer Memphis TN trusts, I encourage you to get help and resolve your debt so that you are not vulnerable to wage garnishment.
We’re here to help you move forward. Call (901) 327-2100 today.