article thumbnail

Calculating Wages for Garnishment

FFGN COLLECT NY

An income execution (also known as a garnishment) is another manner of collecting a money judgment. How to Calculate Wages For Garnishment. It should be noted that only the wages of employees making above a certain threshold can be garnished. in order to be garnished. per hour, which is $450.00.

article thumbnail

Can a NY Judgment Creditor Garnish PPP or Other CARES Act Funds?

FFGN COLLECT NY

With both consumers and small businesses receiving funds from the Paycheck Protection Program (PPP) and CARES Act, questions have come up as to whether these amounts can be frozen or garnished by debt collectors or creditors. Is garnishing PPP or CARES Act funds an option for satisfying outstanding monies owed to judgment creditors?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

COVID-19 Collections Impact Bulletin: State Responses (December 2020 Update)

Burr Forman

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. This Bulletin serves as an update to that non-exhaustive compilation of information.

article thumbnail

An In-Depth Guide to Bank Account Garnishment in Texas and How to Avoid It

Debt RR

This unpaid debt can lead to a serious problem for businesses: garnishment. Bank account garnishment can create serious cash flow blocks for companies of all sizes, and those cash flow problems can compound into other issues, like payroll concerns and late payments on other accounts. Can Debt Collectors Garnish Bank Accounts in Texas?

article thumbnail

Domestication of Foreign Judgments 101

Jimerson Firm

Judgment creditors are often faced with the question of how to collect an out-of-state judgment (also commonly referred to as a foreign judgment) in Florida. Once the foreign judgment is domesticated, the judgment creditor may pursue post-judgment collections efforts in Florida. 55.501, Fla.

article thumbnail

Senate Passes Bill Shielding COVID-19 Relief Payments from Private Debt Collectors

Troutman Sanders

This bill protects stimulus funds provided under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) from being garnished by private debt collectors. This protection is similar to how Social Security payments are barred from garnishment. As part of S. For non-electronic payments, S. For non-electronic payments, S.

article thumbnail

A Comprehensive Overview of How Commercial Debt Collection Agencies Work

Debt RR

Sometimes, that debt gets out of hand and businesses find themselves on the receiving end of calls from commercial debt collection agencies. Here’s everything businesses need to know about commercial debt collection agencies and how to manage communication without disrupting day-to-day operations. How Long Can a Debt be Pursued?