I am being sued by my credit card co in CA; this suit is already 5yrs old. A writ of judgment is for wage garnishment against me. Should I file a claim of exemption and a financial statement, to indicate what I can pay or is there another solution to this predicatment? Thanks so much!
Answer
Garnishments are limited to 25% of one's wages. If the debt cannot be reasonably settled and/or it's symptomatic of a state of financial affairs that may generate perpetual garnishment, then consider qualifying for federal bankruptcy protection. No matter what the total earnings, nobody wants to earn 75 cents on the dollar.
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