Difference between revisions of "Garnishment"
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| − | Garnishment is a method of seizing assets of a [[judgment-debtor]], which are in the hands of a third party. | + | '''Garnishment''' is a method of seizing assets of a [[judgment-debtor]], which are in the hands of a third party. |
For example, garnishment is used by a [[judgment-creditor]] to make a claim to moneys of a judgment-debtor in a bank. | For example, garnishment is used by a [[judgment-creditor]] to make a claim to moneys of a judgment-debtor in a bank. | ||
Revision as of 02:45, March 11, 2008
Garnishment is a method of seizing assets of a judgment-debtor, which are in the hands of a third party.
For example, garnishment is used by a judgment-creditor to make a claim to moneys of a judgment-debtor in a bank.
As a remedy, it is considered harsh. Some states, by constitutional law, provide that garnishment of wages for consumer debt is illegal. Texas provides as much by Article 49 of its Constitution. However, even in those states wage garnishment is permitted for child support, government-backed student loans, and certain federal taxes."