If you took out a money loan can the bank garnish your wages and your taxes?

Question

at the same time?

Answer 1

Absolutely. If they have a judgment against you issued by a court, they can send the sheriff after your house for good measure.

As to your tax refunds, they can go after the entire refund. For your wages, they can go after varying amounts each pay period depending on your other legal situations and federal/state limitations on total percentage garnished. The maximum is 65% of any given pay amount and can be less though the reasons why usually don't do you any good. (The big reason is also having court ordered child support deducted. So that's pretty much gone to you anyway.) Sadly, given that people often only get 70% – 80% of their gross pay as take home cash, a 65% garnishment doesn't leave very much.

One way to reduce the effect on you is to have less withheld for the governments that currently owe you refunds. So you get more protected by the 65% limitation. Or declare bankruptcy.

Of course, you really should nut up and pay your debts. Even with a garnishment order, a bank will often take a negotiated amount that is less each week so long as you bank the check with them and pay them upon cashing it. That's not so onerous as it sounds, you know, paying your debts on a regular basis and all, and asking about it could result in a little more green in your wallet each week.

Answer 2

no one can garnish your taxes except defaulted government or student loans and child support. It is possible they file a lien for your tax refund, but i have never seen it. They normally go after your wages or bank accounts and property. They can go after all these at one time.

Answer 3

Yes they can go after both but only if there has been a judgement made in court.