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My employeer sold her company to another company while I have garnishment. Does the employeer have to notify the debtor or do I have to what happens if neither party notify debtor?
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∙ 15y ago
RODHOOK
Wiki User
∙ 15y ago
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What happens to your wage garnishment when the company files bankruptcy?
your wages still garnished
What happens to a wage garnishment for a student loan if you quit your job?
The collection agency will wait until you get another job and garnish you again. As soon as the IRS knows you have a new job, so will the collection company. You can not avoid wage garnishment, but you can have the garnishment lifted. Default Management Services can help you. Google them.
Can Garnish wages student loan?
In the U.S., a garnished student loan happens when a borrower becomes Default on the outstanding loans which causes a collection company to garnish the wages of the borrower. Garnishment is when an employer deducts money from an employee's paycheck and sends it to a collection company. Garnishment of Federal Student Loans has a cap of 25%.One online company that helps default borrowers get a garnishment lifted is Default Management Services, Inc. You can Google the company for the phone #.Ask for Doug.
What happens to a garnishment when the company is sold to a new owner?
By garnishment I believe you are referring to a lien on the business assets as a wage garnishment would affect employee wages and a bank levy would affect a bank account What ultimately happens depends somewhat on how the company is sold: If the company's assets are being sold but the seller is retaining its ownership shares in an LLC (single owner or partnership) or a Corporation, the seller would have to pay off the lien from the sale of the assets or the assets would not be able to be sold to the new owner as this is the purpose of a court ordered lien in the first place. If shares of the company itself are sold the lien in place would likely transfer to the new shareholder unless the lien was on the seller as an individual instead of on the company itself. When the company sells any assets such as a company vehicle the lien could then be enforced. in some cases it is also possible to force the sale of certain assets to satisfy a judgment. If you are referring to the wages of an employee that are being garnished after the sale a similar thing would be in effect. If the assets are sold only, the new owner is essentially forming a new company. Since the employee would be working for a new company, a new garnishment order would have to be served on him before the garnishment would take place. If the shares of the company were sold, the garnishment would continue to be enforced.
Can a company sell a student loan to another company?
In the US, yes it happens quite often.
What happens to previously issued stock when one company buys another company?
The parent company owns all the stock of the subsidiary.
What happens when a credit card debt goes to litigation?
A credit card debt will be granted a judgment possibly and then the company can pursue you to collect the debt. A garnishment could even be awarded, although this is rare on unsecured debt.
What happens to the employees when one company buys another?
The new company acquires the files. When you buy a company, you also buy everything that is owned by that company, which includes files.
What happens to the employee files when one company buys another?
The new company acquires the files. When you buy a company, you also buy everything that is owned by that company, which includes files.
If you are a equity holder of a Farmers Cooperative and the business sells to another company what happens to your equity?
the name of equity would change only. as preveious co has sold the stakes to another company... this is the case of acquesition
What happens when your car insurance is cancelled by the insurance company?
What happens is that you get a new insurance policy, possibly with another insurer. Any unearned premium will be returned to you by your insurer.
What does the concept of merger acquisition refer to?
A "merger" is what happens when two companies join to become one company. An "acquisition" is when one company purchases another company. An acquisition can also be called a "takeover".
