2006-11-12 16:21:56 · 2 answers · asked by tess 1 in Business & Finance ➔ Taxes ➔ United States
they can garnish the entire 4000 plus interest. the period of time over which they can garnish it will depend on how much you earn, dependents, etc.
2006-11-13 04:28:00 · answer #1 · answered by Ovrtaxed 4 · 0⤊ 0⤋
I think it depends on several things, where you live and how much money you make. Why not avoid the humiliation and contact them to make payment arrangements, I would think any prior arrangement would fit better in your budget then a garnishment.
So you haven't been hit with a garnishment yet. If not and its just your house payment I would recommend contacting them to see if they will allow you to switch to an interest only loan. Have you described your situation to your mortgage company, maybe they can work with you. If all else fails I would check into Ameriqest or Ditech and do a refi. I would not suggest bankruptcy to anyone. My condolences go out to you and your family.
2006-11-13 00:29:00 · answer #2 · answered by robkris110 1 · 0⤊ 0⤋