how much can they take and how little
2006-06-06 14:42:29 · 4 answers · asked by candle 1 in Business & Finance ➔ Personal Finance
It depends how 'nice' the creditor is. But you might as well figure on the max. The maximum they can take is 25% of your disposable income. Disposable income is income after deductions. If you have more than one creditor garnishing wages, the max is still 25% total. Each creditor will have to take a share in the total amount.
Say for instance your disposable income is $350 bi-weekly. Subtract 25% = $87.50. If more than one creditor, each one would have to split the $87.50 to pay down the debt.
2006-06-06 15:46:10 · answer #1 · answered by Celeste 6 · 0⤊ 0⤋
For student loans the max is 15%.
2006-06-08 03:33:20 · answer #2 · answered by birdchirp 3 · 0⤊ 0⤋
They don't care how much you have to live on, you have their money and they want it back. And they will go as far as the law will allow.
2006-06-06 22:29:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yes they can if the find you!..
I suggest a cash job Or call them and arrange to pay them $5-10 a month THEY CAN NOT take ur money if you pay even if ur paying a little!...
2006-06-06 21:49:07 · answer #4 · answered by Italianbella 2 · 0⤊ 0⤋