Posted on: 22nd Sep, 2009 06:51 pm
If I am sued by a mortgage lender for a deficiency judgment, I hear I could have my wages garnished at around 25% of my disposable income. What is considered disposable income in such a case?
Hi unclebuck,
It is true that your creditor can garnish around 25% of your disposable income. Disposable income is the amount of income left after you pay the taxes. It is the income available for you to spend and save.
Thanks
It is true that your creditor can garnish around 25% of your disposable income. Disposable income is the amount of income left after you pay the taxes. It is the income available for you to spend and save.
Thanks
So, this isn't minus living expenses, such as mortgage, groceries, utilities, etc?
So, this isn't minus living expenses, such as mortgage, groceries, utilities, etc?
it is best to discuss this with an Attorney!
unclebuck, your expenses would not be taken into consideration in that case...no.
