I thought it was 30 % but my boss says that would be overly cruel.
2006-10-27 04:39:53 · 8 answers · asked by jwhitaker9 1 in Business & Finance ➔ Taxes ➔ United States
Federal law allows up to 25% of your net income to be garnished. It can be more (up to 50%) if you owe federal or student loans or back child support.
You should check with your state's laws on what/how much can be garnished. Not every state allows garnishment for certain debts or on types of income.
2006-10-27 06:15:14 · answer #1 · answered by Celeste 6 · 1⤊ 0⤋
Whatever it is, it's more than what you'd be paying if you settled your debts upfront. Re-organizing your finances so that you can pay off your debts. Visit the Cheapskate website below for loads of tips on living within your budget and paying off your debts. Change the way you think about the 8 hours a day you spend earning money; a job won't help you to get out a debt; a career will. What's the difference? One is controlled by your boss, the other is controlled by you. Take control. Don't let the goverment do it for you.
2006-10-27 11:52:16 · answer #2 · answered by lizzit 3 · 0⤊ 0⤋
Looks like the boss isn't offering much to relieve the situation.
Why not look to increasing your income on your own time so as to prevent this?
A typical workday is ~8 hours. Well - this leaves ~16 hours available or ~8-hours after sleeping.
TV watching doesn't pay much.
If you have an interest in increasing your income - drop me an email. I may have a valuable perspective for you.
Also: Read Robert Kiyosaki's best seller 'Rich Dad, Poor Dad' for insight on how business really works - not taught in school!
Good Fortune to You!
2006-10-27 11:47:50 · answer #3 · answered by Smilin' Fred 4 · 0⤊ 0⤋
It depends on the state that the garnishment is issued. Normally, the state cannot take more than 50%. P.S., it does not take $150 plus aweek to support a child.
2006-10-27 11:48:50 · answer #4 · answered by Imagooddaddy 1 · 0⤊ 0⤋
The federal government has specified that no more the 25% of your "after taxes" disposable income can be taken per pay period.
2006-10-27 11:51:32 · answer #5 · answered by kjvonski 1 · 0⤊ 0⤋
I believe 25%
2006-10-27 11:42:23 · answer #6 · answered by Anonymous · 0⤊ 0⤋
its not more than 50%
2006-10-27 21:57:23 · answer #7 · answered by linluv2001 2 · 0⤊ 0⤋
What is overly cruel, is all the money it is taking just to get you to take care of your obligations!!! REAL MEN PAY THEIR BILLS AND TAKE CARE OF THEIR CHILDREN!!
2006-10-27 11:45:40 · answer #8 · answered by wish I were 6 · 1⤊ 0⤋