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If you have a lot of unpaid debts and creditors are threatening wage garnishment, you may have to deal with a court battle in the very near future. Creditors can legally garnish your wages, but only after they obtain a court order. Garnishment is usually a “last resort” effort by creditors to collect on their debt. It’s likely that they’ve exhausted all other options and cannot get you to pay for your debt within a reasonable amount of time.

Unfortunately, letting the situation escalate to this level can hurt you. Once the courts order your wages to be garnished, your employer will be aware of your financial situation and you’ll have fewer options to improve your credit standing. The best thing you can do is to take steps to avoid wage garnishment altogether – don’t just stick your head in the sand!

Here’s what you can do to stop the garnishment of your wages:

1. Stay in touch with your creditor. Remember that a creditor will pursue wage garnishment when they cannot seem to get you to pay your debt within a certain timeframe. If you have been ignoring them or refuse to talk to them – and haven’t filed for bankruptcy so that the creditor is required by law to stop contacting you or pursue further action  — you put yourself in a weaker position. Do your best to stay in touch with the creditor and work on setting up a reasonable repayment plan. Showing the creditor that you have every intention of paying back your debt might encourage them to back off for now.
2. File an appeal. If the wage garnishment has already been approved by the court, you do have the right to file a “claim of exemption” which basically shows that you cannot afford this type of paycut because your paycheck is covering all of your basic living costs, such as housing, insurance and your grocery bill. You will need to prove to the court that you would essentially get behind on your regular bills if your wages were garnished. If the court is convinced that the garnishment would end up putting you in a worse financial situation than you are already in, they may prevent the creditor from garnishing your wages or ask the creditor to reduce the amount that is to be garnished.
3. Pay the judgment amount. If you do have some funds available to pay off the full debt within 10 days of the judgment, the court can stop the garnishment process altogether. Make sure you’re aware of the judgment amount and take steps to pay it off in full as soon as you can.

The simplest way to stop garnishment of your wages is to file for bankruptcy, but that’s not always a feasible solution for most people. Being proactive when creditors are coming after you can help to prevent this drastic step altogether. Do your best to work out a repayment plan with your creditor so that they are confident you will be paying the debt within a certain timeframe.

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As the economy continues to recover from the recession at a steady pace, many Americans are finding themselves on a job hunt in a very tight job market. Competition for high-paying jobs continues to heat up and many job seekers are finding it difficult to find even entry-level positions in their field. According to the May 2011 Employment Situation news release from the the U.S. Department of Labor Bureau of Labor Statistics, the national unemployment rate is 9.1 percent, which means approximately 13.9 million people in the United States are unemployed.

Whether you’ve been laid off recently or are looking for a career change, use these tips and resources to find a job that is aligned with your career goals and is one that you might even enjoy:

1. Seek out your ideal company first, position second. Instead of just looking at hundreds and hundreds of job ads in newspapers or online listings, start your job search be seeking out companies that you want to work for. Look at the “About Us” and “Careers” sections on their website to learn about the company culture and think about whether you would be a good fit for the team. Remember that company culture plays an important role in your experience at the job – you’re going to be working in that environment day in, day out – so it needs to be aligned with your values and goals.
2. Choose positions that allow you to grow. Instead of looking for a job that is exactly the same as your last position, consider a position that is one step up or one that will allow you to grow fairly rapidly. As competition for solid jobs continues to get fierce, you need to look for opportunities that will support a thriving career in your field.
3. Line up your contacts and start networking. You might be able to learn about some great job opportunities through people you already know. Review your contacts list and see if know anybody that is working for a company that you would be interested in working for. Let them know that you are in the job market and are interested in learning about any positions that may be available in a certain department or field. You never know what might be available until you ask! Remember that some companies don’t always publish all of their available positions to the public, and may rely heavily on their employees for referrals or recommendations.
4. Polish your resume. Make sure your resume is up-to-date and contains only the relevant information for each position you apply for. Take some time to polish up your resume and provide detailed information about the positions you’ve held, your key roles and responsibilities, and any significant achievements during your term. Remember that prospective employers are looking for candidates that can bring something to the company – highlight skills and assets that will help the employer meet their goals. Your resume can be a powerful marketing tool when it contains the right type of information! Turn to resource sites like QuintCareers.com to write a professional resume that gets the attention of your future employer.
5. Be flexible about terms. If you find the ideal position but find that you will need to train in a different state, get a pay cut or commute a very long distance each day, make a pros and cons list and consider how you can make it work. Remember that things can change and you could earn some brownie points for being flexible and open to trying something new. Step out of your comfort zone and cooperate as much as you can – doing so could land you a job that you stick with for several years to come.

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If you’ve been working at the same company for more than a year, it’s likely that you’re eligible for a number of job benefits that could not only help you become more productive, but could also improve your career and overall financial and personal life.

While it’s true that U.S. employers have been steadily scaling back on costly benefits like healthcare coverage, it’s also the case that most American employers, nevertheless, offer numerous assistance programs free of charge to eligible employees. Some companies even go all out when it comes to heaping generous perks and fringe benefits on their workers in order to boost recruitment efforts and retain top talent. These company offerings may range from creative employee wellness initiatives to helpful work-life balance programs, such as childcare services or health club membership plans.

Here are five job benefits you may not be using, but should be taking full advantage of now:

1. Financial Literacy and Financial Education

Some companies offer free “lunch and learn” programs that could help you better manage your financial life. From retirement planning seminars to credit counseling sessions that explain the differences between debt management and debt settlement, you could learn some effective methods and strategies for improving your financial health. These programs can help you make sound financial decisions in your personal life, and may even motivate you to set some financial goals for your future.

If your company doesn’t offer financial literacy as a benefit, ask your boss or your Human Resources department to reach out to an organization such as the LFE Institute. LFE is a national provider of workplace financial education. Their offerings are low-cost to employers and free for employees.

2. 401(k) or 403(b) Matching Programs

One of the most attractive benefits an employer can extend to an employee is a 401(k) or 403(b) matching program. These help you save for your Golden Years because any contributions you make to these retirement plans gets matched–up to a certain amount–by you employer.

Although, since the recession hit, some companies have cut back on their matching programs, others still offer dollar-for-dollar matching, giving you a 100% return on your savings. Other employers match 50 cents on the dollar, or even less. Still, it’s free money so you should you’d be wise to take full advantage of this benefit and enroll in your company sponsored retirement program as soon as you can. Unfortunately, too few of us participate in such plans – and even when we do, we don’t save as aggressively as we should.

For instance, a 2009 Ariel/Hewitt study found that only 66% of Blacks contribute to their 401(k) plans at work, compared a 77% 401(k) participation rate for whites.

Also, among Blacks who do invest via company retirement plans, six in 10 African-Americans have less than $50,000 saved in those plans, while only 23% have more than $100,000 in these plans, according to a 2011 Prudential study called “The African-American Financial Experience.” Comparatively, 34% of Americans in general have $100,000 in company retirement plans, Prudential found.

Read the rest of Lynnette’s article on BlackEnterprise.com

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Being unemployed and waiting for that next unemployment check can be stressful. If you’ve fallen behind on some bills and let them slide for more than 180 days, you could be setting yourself up for some serious financial problems ahead.

If a creditor pursues legal action against you for unpaid bills, a court order could lead to wage garnishment. Wage garnishment allows the creditor to take a portion of your paycheck or income, and the amount will be deducted automatically from your bank account.

How to Handle Garnished Wages or Unemployment Benefits

In most circumstances, unemployment benefits are exempt from garnishment so you will not need to worry that creditors will have access to your unemployment income. However, if you were receiving severance pay from your last job, that income may be subject to garnishment.

Keep in mind that the only way for a creditor to garnish your wages is through a court order. This does take time, and you will be notified well in advance that this will be taking place. If you are being sued for debt owed, it’s a good idea to work with a lawyer and get some professional legal advice about the entire process.

Things to Keep in Mind About Wage Garnishment

Some other important things to keep in mind when your wages or severance pay will be garnished:

If you have a joint bank account with a spouse, a creditor may have the ability to take money from your joint account, even if some of the money is from your spouse’s paycheck.

Depositing your unemployment benefits in a separate account may help to protect other accounts you own or are linked to.

Creditors can get a new court order to garnish your wages when you switch employers. If you still have outstanding debts, you need to pay them off as quickly as possible to avoid these creditors from “chasing” you from employer to employer

If you don’t show up for your court date, the court will grant the creditor the full right to garnish your wages and you won’t have any say in the matter going forward.

When your wages are being garnished, your employer will be fully aware of your current financial situation. In this case, carrying debt and being late on your payments can make you appear irresponsible or untrustworthy.

Once the judgment to garnish your wages has been rendered, you have very few options for stopping the process. By state law, creditors are required to provide you with plenty of lead time about what is about to happen.

When a creditor threatens that they will take you to court about your debt, it’s in your best interest to talk to an experienced attorney immediately. An attorney can guide you through the process and make sure you understand which funds are exempt from garnishment, and what rights you do have.

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