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Can a lender garnish your wages and income taxes after repossession?
IF they have a JUDGEMENT for the balance due, they can garnishee your wages. Income taxes?? NO
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Answer No, all SS benefits are exempt from garnishment or attachment for creditor debt of any sort.
Answer Wages can only be garnished for three reasons. 1. IRS 2. Child Support 3. Student loans. Anyone that told you different committed fraud if it was a …collector. go to ftc.gov at the consumer section and you will read all your looking for
No, they cannot garnish you wages if you reside in NC. Only the IRS, state and local tax authority can garnish your wages. If you move to a garnishment state garnishment proce…edings may be taken against you. Only a civil judgment may be filed but that would be at the creditor's discretion. Typically, one the car has been repossessed, it will have a condition report done on it by the repossession company who will then send it to the company that assigned the account. The credit company will determine what to do at that point. If it is worth it for them to have the vehicle go to auction, they will have it transported to the auction company where it will be sold. If the vehicle is sold for more than what you owed (this includes all the fees that get added to the account, i.e., repo fees, transport fees, admin fees, etc.) the credit company has to give you the balance. If, however, it is sold for less than what you owe (more often the case), you are responsible for the remaining balance. Yes, they can take you to court for that balance but most of the time it is written off by the credit company and it remains on your credit as a repo.
YES AWG is authorized by a Federal law (20 USC � 1095a), which specifically preempts State law.
Answer Yes. There's a process they have to follow, which includes getting a court judgment against you. If you don't hold to that judgment (which is usually pa…ying back the money owed), they can ask the court to garnish your wages.
Answer Yes, if the lender wins a lawsuit judgment they can execute the judgment as a wage garnishment. Georgia follows federal garnishment guide…lines of a maximum of 25% of disposable income with the first $154.50 (weekly based) being exempt from garnishment action. A valid garnishment is generally imposed until the debt is paid.
They aint going to....They try to scare you with that, as long as they have there property there good!!
Presuming you have one coming, if the garnishment isn't by the government, yes.
If this is about the income tax refund offset program through the FMS. You can use the below enclosed information and phone number. The Department of Treasury's Financial Ma…nagement Service (FMS), which issues IRS tax refunds, has been authorized by Congress to conduct the Treasury Offset Program. Through this program, your refund or overpayment may be reduced by FMS and offset to pay any past due child support, Federal agency non tax debts, or state income tax obligations. Go to the IRS gov website and use the search box for Topic 203 - Failure to Pay Child Support, Federal Non Tax and State Income Tax Obligations For additional information, FMS can be reached at 800-304-3107.
A repossession is a repossession, voluntary or not.. When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan …payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in any way, your creditor may have the right to repossess your car.. Talking with Your Creditor It is easier to try to prevent a vehicle repossession from taking place than to dispute it afterward. Contact your creditor when you realize you'll be late with a payment. Many creditors will work with you if they believe you'll be able to pay soon, even if slightly late.. Sometimes you may be able to negotiate a delay in your payment or a revised schedule of payments. If you reach an agreement to modify your original contract, get it in writing to avoid questions later. Still, your creditor may refuse to accept late payments or make other changes in your contract and may demand that you return the car. By voluntarily agreeing to a repossession, you may reduce your creditor's expenses, which you would be responsible for paying.. Remember that even if you return the car voluntarily, you're responsible for paying any deficiency on your credit or lease contract, and your creditor still may report the late payments and/or repossession on your credit report.. Seizing the Car In many states, your creditor has legal authority to seize your vehicle as soon as you default on your loan or lease. Because state laws differ, read your contract to find out what constitutes a "default." In most states, failing to make a payment on time or to meet your other contractual responsibilities are considered defaults. In some states, creditors are allowed on your property to seize your car without letting you know in advance.. But creditors aren't usually allowed to "breach the peace" in connection with repossession. In some states, removing your car from a closed garage without your permission may constitute a breach of the peace.. Creditors who breach the peace in seizing your car may have to pay you if they harm you or your property.. A creditor usually can't keep or sell any personal property found inside. State laws also may require your creditor to use reasonable care to prevent others from removing your property from the repossessed car. If you find that your creditor can't account for articles left in your car, talk to an attorney about whether your state offers a right to compensation.. Selling the Car Once your creditor has repossessed your car, they may decide to sell it in either a public or private sale. In some states, your creditor must let you know what will happen to the car. For example, if a creditor chooses to sell the car at public auction, state law may require that the creditor tells you the date of the sale so that you can attend and participate in the bidding. If the vehicle is to be sold privately, you may have a right to know the date it will be sold.. In either of these circumstances, you may be entitled to buy back the vehicle by paying the full amount you owe, plus any expenses connected with its repossession (such as storage and preparation for sale).. In some states, the law allows you to reinstate your contract by paying the amount you owe, as well as repossession and related expenses (such as attorney fees). If you reclaim your car, you must make your payments on time and meet the terms of your reinstated or renegotiated contract to avoid another repossession.. The creditor must sell a repossessed car in a "commercially reasonable manner" - according to standard custom in a particular business or an established market. The sale price might not be the highest possible price - or even what you may consider a good price. But a sale price far below fair market value may indicate that the sale was not commercially reasonable.. Paying the Deficiency A deficiency is any amount you still owe on your contract after your creditor sells the vehicle and applies the amount received to your unpaid obligation. For example, if you owe $2,500 on the car and your creditor sells the car for $1,500, the deficiency is $1,000 plus any other fees you owe under the contract, such as those related to the repossession and early termination of your lease or early payoff of your financing.. In most states, a creditor who has followed the proper procedures for repossession and sale is allowed to sue you for a deficiency judgment to collect the remaining amount owed on your credit or lease contract.. Depending on your state's law and other factors, if you are sued for a deficiency judgment, you should be notified of the date of the court hearing. This may be your only opportunity to present any legal defense.. If your creditor breached the peace when seizing the vehicle or failed to sell the car in a commercially reasonable manner, you may have a legal defense against a deficiency judgment. An attorney will be able to tell you whether you have grounds to contest a deficiency judgment.
this can vary by state, but in most if they get a judgment against you by taking you to court, then can - but there are rules about this as well that vary by state for example… where I live they can't garnish the head of household, can't leave less than a certain amount in the check, etc. There are a LOT of variables: how much you owe v.s. how much the car is worth... The state you live in...the loan agereement which you have signed..other costs such as towing, storage etc... Generally , if they repo the car and it pays off your debt, and you pay the towing and storage fees and there is no outstanding balance, they have no reason to garnish your wages. But if you don't make a deal with the loan company, and you owe them money and don't set up a payment schedule that they accept, they can garnish your wages until you are even ( you don't owe them anything). If you communicate with the lender and make arrangements to pay so much a week, they will work with you. But if you blow them off, they will get their money one way or another! A negotiated payment plan looks better on your credit record than a garnishment.
Not normally. They can however file a non wage garn and get your taxes when you deposit them into your checking or savings account. Usually only, government and state can with…hold your taxes...i.e. back taxes, child support, student loans etc...
YES, even in AZ.
Any lender has to get a judgment before they can garnishee anyones wages.Then the debtor has to have wages before any lender can garnishee them. It is up to the lender whether… or not they go that route in the collection process.
Can wages earned overseas that are not subject to federal income tax be garnished for child support?
I've worked several overseas assignments. The US is one of the only countries that taxes foreign income so I can't imagine a situation where your foreign income would NOT be s…ubject to US federal taxes. As such I would further suppose that it is therefore liabel to be garnished. I'm improving the previous answer: My husband worked overseas. He did not have to pay US federal taxes because he paid German taxes and a person cannot be double taxes on income. He still had to pay his child support obligation and it was garnished from his pay.