What is the name of your state?
Colorado
Long story short, I have a lot of creditors. I am working on paying them back but my paycheck only goes so far. I have set up payment plans with several of them and intend to pay them all back but several others are threatening garnishment.
First of all I am assuming the following, please correct me if I am wrong:
The maximum amount that can be garnished from my check is 25% of my take-home pay.
If the above is correct I have a question. I pay child support and on the documentation we got to choose whether I paid her directly or I had the state garnish my pay and pay her. We choose to have me pay her directly. My question is this:
If I have child support garnished, and if my assumption is true does this mean that the child support counts tword the 25% maximum?
Please let me know, I am not trying to avoid my debt, and it isnt enough to file bankruptcy, it is just that to lose 25% of my take home would cause me to be unable to make the voluntary payment plans I have in place.
Thanks in advance.
Colorado
Long story short, I have a lot of creditors. I am working on paying them back but my paycheck only goes so far. I have set up payment plans with several of them and intend to pay them all back but several others are threatening garnishment.
First of all I am assuming the following, please correct me if I am wrong:
The maximum amount that can be garnished from my check is 25% of my take-home pay.
If the above is correct I have a question. I pay child support and on the documentation we got to choose whether I paid her directly or I had the state garnish my pay and pay her. We choose to have me pay her directly. My question is this:
If I have child support garnished, and if my assumption is true does this mean that the child support counts tword the 25% maximum?
Please let me know, I am not trying to avoid my debt, and it isnt enough to file bankruptcy, it is just that to lose 25% of my take home would cause me to be unable to make the voluntary payment plans I have in place.
Thanks in advance.