Question regarding Wage Garnishment
Date: Tue, 09/22/2009 - 13:28
I read the maximum allowed by federal law is 25 percent but i also read New jersey (where i live) is 10 percent...what determines which is used...?
Also, it says interest rate 6 percent and 16 percent if there is a written contract. Can someone explain exactly how they would tack on interest to a judgement and how that would affect a garnishment?
Also, it says interest rate 6 percent and 16 percent if there is a written contract. Can someone explain exactly how they would tack on interest to a judgement and how that would affect a garnishment?
current court rate of interest in nj is 4%. wage garneshment is
current court rate of interest in nj is 4%. wage garneshment is 10% gross or 25% disposable. usually its just 10% gross. if the execution has been served to your employer then you can talk to your payroll dept - they have a work sheet that tells them how much to deduct.
