Everything You Need To Know About Wage Garnishment

wage garnishment


Article Contributed By Harish Chandra 

A legal process that permits the creditors to reduce the amount of money from the pay offered by the employer to the borrower is called wage garnishment. It is basically a method that the creditors use for the collection of their unpaid debts. Wage garnishment issues don't usually arise in the initial stage. Instead, when there is ignorance shown by the borrower for the notices, phone calls, or letters, the authority needs to use this method. It is essential to get a wage garnishment release at the earliest possible to minimize its effects. 

However, this is possible only by hiring the right tax resolution services to help you out. In this article, you will learn about all the crucial aspects concerning IRS wage garnishment and also about how you can solve them. 

How Does Wage Garnishment Work? 

All kinds of debt can result in consequences such as that of IRS wage garnishment. However, there are a few types of creditors that utilize this method more commonly. These creditors usually include: 

· Unsecured consumer debts 
· Federal student loans 
· Unpaid child support 
· Federal taxes 

There are some common steps involved in most of the scenarios involving wage garnishment. These steps are: 

#1: You make a mistake and get under a debt issue. This could arise because of multiple reasons involving credit card debts, back taxes, child support debts, etc. 

#2: Initially, you start receiving various notices, letters as well as calls asking you to clear off your debts immediately. These also warn you of the consequences that might arise in case you fail to do so. 

#3: You get a formal lawsuit against you by the debt collector. The court can provide judgment in your favor or rule against you as well. Also, there are chances that if you seek help from a professional tax relief expert, you might get an allowance for more time to pay off your debts. 

#4: In case you lose, then the collector receives the order from the court for executing wage garnishment. 

#5: In this case, the creditor is an indirect association with your employer. He has the right to garnish your wages to the full extent of the law. A specific amount is reduced from your pay until the time your entire debt is paid. 

How To Come Out Of Wage Garnishment? 

When it is about taxes, the best thing to do will always be wisely looking into it beforehand itself and paying your dues properly. However, if due to some circumstances you haven’t been able to do so, repay your debts as soon as you receive notice or phone calls about it. 

There are some ways to get a wage garnishment release as well. In case you are stuck and have no other way out by yourself, it is time to seek guidance from experts. Tax resolution services like the ones offered by Platinum Tax Defenders can guide you properly to solve this critical issue. Without the right assistance, you are definitely going to suffer significantly in financial aspects. 

For instance, a tax relief expert can provide you with a solution like switching to a lower wage job or quitting a job altogether to stop wage garnishment. While this might be an extreme scenario, only an expert will know the right pick for you. 

To come out of IRS wage garnishment issues, the expert might even get a payment plan worked out for you. For all these specific solutions that can minimize your losses, you need the assistance of the right tax resolution services. 

How Can Professionals Help? 

There are a number of different solutions that the professionals can come up with for your wage garnishment release. Some of the significantly standard solutions that the tax resolution services can help you with include: 

Different Payment Plans 

There are a few payment plans or installment agreements that can work as a solution for IRS wage garnishment if appropriately executed. An expert in the field will know how to proceed with it and make it work for you. 

Opting For Partial Payment Settlement 

There can be other solutions, such as paying partially initially and then forming an agreement for the remaining amount. This can help you in buying more time to clear off your debts. This can be manipulated in such a way that the limitations by the IRS expire, and you don't have to clear off the entire debs at all. However, for all this, only a well-qualified tax relief expert will be able to help. 

Tax Extensions 

Wage garnishment release can also be possible if you get a tax extension. A lot of filing work needs to be taken care of for this kind of solution. The professional tax attorneys have the right knowledge about proceeding with this method. 

Making A Single Lump-Sum Payment o the IRS 

The expert can work out a plan and convince the IRS collector to settle for a fairly reasonable amount that you can payback and clear your wage garnishment issue. For this kind of solution, you must be willing to pay a certain amount in a single go itself. Whether the answer is right for you or not is also a crucial aspect. A qualified expert can guide you through this and tell you honestly if this is the solution that you should be opting for. 

About Platinum Tax Defenders 

Do you need a workable tax resolution plan for yourself? If yes, then you need to get in touch with the right experts. The correct tax resolution services for you would definitely be Platinum Tax Defenders. Being one of the leading firms in Los Angeles in the industry, the firm has professionals that can get you out of tax issues with minimal losses. Whether you need assistance to tackle your debts with the IRS, back tax help, and other such tax problems, contact Platinum Tax Defenders. The professionals at the company will help you with your issues appropriately. Get in touch with the right experts today and become debt-free at the earliest! You can book an appointment for a free consultation with Platinum Tax Defenders.

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