If you have debt issues in New Jersey, you may be plagued with calls or letters from collection agencies wanting to get paid. Debt is an issue many people struggle with. It is common to fall behind on payments and end up in collections. In some cases, if your debts are way overdue and all efforts to collect them have failed, a creditor may try to garnish your wages or bank account to get its money.
According to the Consumer Financial Protection Bureau, your wages or bank account may be garnished by a debt collector if a court judgment has been made. One exception is if you owe money to a government agency. It may not have to go to court to collect payments in this way. The court order will state how much money can be taken and for how long.
Even if there is a court ruling that allows a debt collector to garnish your wages or account, there are limits in place. A debt collector will never be able to take all your money. You have to be left something to live on. It will also not be able to touch certain money that you may receive, such as some types of Social Security benefits or veterans benefits.
You will be notified about any court case against you. It is wise to appear in court, so you can defend yourself and explain your situation. This information is for education only and is not intended as legal advice.