garnishment

Kevin Evans relaxes in his small apartment after arriving home from work. Evans, who lost income and his home in the recession, is now having his wages garnished after falling behind on his credit card payments.

National
Economy

Millions Of Americans' Wages Seized Over Credit Card And Medical Debt

10:52am September 16, 2014

One in 10 working Americans between the ages of 35 and 44 is getting his or her pay docked for not paying debts. And in most states, the law allows a quarter of wages to be withheld.

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Conrad Goetzinger and Cassandra Rose struggle to pay their bills as $760 is garnished from their paychecks every two weeks by debt collectors. Twice, Goetzinger's bank account has been emptied by collectors after he failed to payoff a loan for a laptop.

Economy

With Debt Collection, Your Bank Account Could Be At Risk

8:36am September 16, 2014

A 1968 federal law allows debt collectors not only to garnish wages but to take from a debtor's bank account. Consumer advocates say the outdated law is overly punitive and out of touch with reality.

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