Financial Law

After a judgment is entered against you in court, what happens? First, a sheriff or marshal or other state authority may notify your employer of the judgment and the garnishment. Depending upon the state, the amount garnished will vary, but it is usually a percentage of your paycheck, less certain exemptions offered by state law.

Chapter 13 Bankruptcy has some limits that are subject to being changed by Congress, so one should always consult with a specialist at the time Bankruptcy may be sought as a remedy before reaching a decision to do so. Contact member services and be paired with a Chapter 13 is available to wage earners, small business owners and professionals, but may not include everyone.

Discharge of your Debts: Chapter 7 is not really a reorganization, but rather a complete discharge of all of the debt you may have at the time, with certain statutory exceptions.


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