Billy Price explains how a garnishment on your wages will be stopped by filing for bankruptcy.
People often call me and tell me a that they are having their bank account garnished by a creditor and they want to know if filing a bankruptcy will stop this garnishment. The answer is yes. Once the bankruptcy is filed the automatic stay, which is a court injunction, allows me to stop any garnishments on your checking account.
The process is, once we file your case we contact the creditor that is garnishing your checking account. We also contact the bank where your checking account is, we tell them you are filed for bankruptcy, and that they must stop all garnishments on your checking account. This takes care of the problem so if you are experiencing garnishment on your checking account, bankruptcy is a viable option to stop that from happening.
I'm Billy Price, thank you for watching bankruptcy TV. Have a nice day.
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