When you struggle to keep up with your bills in Ohio, you run the risk of your creditors coming after you in an attempt to collect what you owe. If those creditors are able to ultimately secure a court order against you, your employer may end up withholding some of your paycheck until your creditor receives everything owed to him or her.
Just how much of your paycheck do you potentially stand to lose in a wage garnishment? According to NerdWallet, the portion of your paycheck you stand to lose to wage garnishment will depend on the type of debt you accrued in the first place.
Many people who end up facing wage garnishment do so because they are unable to stay on top of credit card bills, medical bills, consumer loans or other personal debts. If this describes your situation, you can expect to lose either 25% of your paycheck or the amount by which your income exceeds 30 times the current federal minimum wage, with you ultimately paying whichever amount is lower.
If your debt comes from unpaid student loans, on the other hand, you can expect your employer to withhold 15% of your paycheck during the garnishment period. Tax debts, meanwhile, can lead to wage garnishments of up to 15% of your paycheck, while debts relating to child support or alimony can cause you to lose as much as 50% or 60% of your paycheck.
This information about how much of your paycheck you can potentially lose to wage garnishment is educational in nature and not a substitute for legal advice.
