What are my options if I want to avid bankruptcy?

[KathyF]

My husband's wages just got garnished today for a credit card in the amount of $3500. He makes over $50,000 in a year. How much by Iowa law can they take a year? Is there anything we can do to stop the wage garnishment. We have over $15,000 in credit card debt. I have a $19,000 student loan which is currently in default. I want to file bankruptcy but my husband does not want too. Any suggestions would be helpful. Thank you.Sincerely,Kathy Forari

[Credit Expert]

That’s several questions so allow me to list them accordingly:

Q: How much by Iowa law can they take a year?
A: Garnishment amounts vary by state and the judge which orders it. I do not know the amount but I believe 25% of your gross wages after expenses is the max in many states. There will always be hearings that will set the amount of the garnishment, so make sure you attend them. You can try http://legaladviceline.com if you want to talk to an attorney very inexpensively, I believe the cost is around $40 to talk to an actual attorney in your venue. Have had only excellent feedback from those who used them


Q: Is there anything we can do to stop the wage garnishment?
A: You can stop wage garnishment by settling the debts, appealing it with the court that ordered the judgment, find a job that they don’t know about. Be careful, they often find bank accounts and other assets. You may want to research how to protect assets, accounts, etc…..


Q: I want to file bankruptcy but my husband does not want too. Any suggestions would be helpful
A: Bankruptcy should be considered only as an absolute last resort. Here is some information about bankruptcy http://www.expert-credit-advice.com/ban ... _facts.htm that may help you decide what’s right for you. You may want to consider calling you local chamber of commerce and requesting 2-3 free referrals to a legitimate personal bankruptcy attorney. Call each of the attorneys and have all of your financials ready, the attorney can quickly tell you what your options are. There should be no cost for the consultations and you should only choose one that you are most comfortable with.

I understand you are in a tough situation right now. I hope my opinion helps.