Leading Chapter 7 & 13 Bankruptcy Attorneys Reveal How To Stop Wage Garnishment Fast – East Meadow, Hempstead, NY

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Bankruptcy attorneys Kamini Fox and Neil Ackerman, partners at Ackerman Fox, LLP in East Meadow, NY, outline steps to take to stop wage garnishment. For more information please visit http://ackermanfox.com

In a recent interview, bankruptcy attorneys Kamini Fox and Neil Ackerman, partners at Ackerman Fox, LLP in East Meadow, NY, revealed how to stop wage garnishment quickly.

For more information please visit http://ackermanfox.com

When asked to comment, Fox said, “When a creditor collects on your debts, they are allowed in most circumstances to garnish the lesser of 10% of your gross wages or 25% of your disposable income to the extent that this amount exceeds 30% of minimum wage. , which can place a financial strain on you and your family. Filing for bankruptcy can quickly shield your income from debt collection.”

An automatic stay, or an injunction, will go into effect immediately after declaring bankruptcy.

When asked to elaborate, Ackerman said, “An automatic stay stops creditors from engaging in collection activities including wage garnishment on all types of debt and applies to your case immediately no matter which type of bankruptcy you file for.”

Creditors will continue to collect until they receive notification of the bankruptcy filing.

"It normally takes the bankruptcy court a few days, up to a week to send information about your case to creditors. So, if there is a garnishment in place or about to occur with respect to one of our clients, our Firm calls and sends proof of the bankruptcy filing to the the creditor, the sheriff’s or marshal’s office, and the client’s employer as soon as the case is filed to make sure that the garnishment is stopped immediately,,” Kamini said.

She added that creditors are legally bound by the automatic stay to stop wage garnishment once made aware of the bankruptcy, even before receiving official paperwork from the court.

The automatic stay terminates once the case comes to a close, or in chapter 7 bankruptcy cases, upon the issuance of a discharge to the debtor.

When asked to elaborate, Ackerman commented, “Credit card companies and unsecured loan creditors cannot collect on debts that have been not been determined through an adversary proceeding in the bankruptcy case to be nondischargeable by the Bankruptcy Court, but there are some types of debt which are not dischargeable in bankruptcy as to which the creditors will be able to resume wage garnishment and other collection activities after the stay terminates, unless the debt has been 100% paid in the bankruptcy ”li.”

Ackerman added, “Make sure to speak with a professional bankruptcy attorney if you have questions regarding the effect of Bankruptcy on garnishment.”

Source: http://RecommendedExperts.biz

Contact Info:
Name: Neil Ackerman and Kamini Fox
Email: Send Email
Organization: Ackerman Fox, LLP
Address: 90 Merrick Ave #400, East Meadow, NY 11554, USA
Phone: 516-493-9920
Website: http://ackermanfox.com

Source URL: http://RecommendedExperts.biz

Release ID: 452745

CONTACT ISSUER
Name: Neil Ackerman and Kamini Fox
Email: Send Email
Organization: Ackerman Fox, LLP
Address: 90 Merrick Ave #400, East Meadow, NY 11554, USA
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