A common question I receive as a debt collection attorney is, “What is the worst that can happen?” The answer is fairly simple. The worst that can happen is the creditor can sue the consumer and obtain a judgment in their favor. With a judgment in hand, the debt collector can then go to the judge and file a motion to either (1) garnish the consumer’s wages or (2) levy the consumer’s bank account.
In wage garnishment in Arizona, for example, a creditor can take 25% of the consumer’s wages with a judgment and court order. How do they know where you work. There is an app for it, of course. As the article below describes a large database with salary and employment information exists that creditors can subscribe to in order to get the information they need to start the garnishment proceeding. Creditors can also go to more common sources like LinkedIn, Facebook, and Google to find employment information.
Kevin Fallon McCarthy
Latest posts by Kevin Fallon McCarthy (see all)
- Different Ways to Get Out of Debt - January 22, 2019
- Public Servants’ Second Chance at Federal Student Loan Forgiveness - April 10, 2018
- CREDIT CARD LOSS FOR SMALL BANKS AT AN EIGHT YEAR HIGH - March 22, 2018
- Rise of the Jumbo Student Loans - March 17, 2018
- Credit Card Market: Now and Then - February 23, 2018