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Wage garnishment in Washington State - sleepless in Seattle because of Wells Fargo installment loan

Fri Apr 25, 2008 10:04AM | By Tony

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Q: I had an installment loan with Wells Fargo, I live in Washington State, Seattle burbs to be more precise. Lost job when Boeing moved to Chicago. My car was repossessed and according to Wells Fargo sold for $13,400. The $2,800 difference is what Wells Fargo collection department is after. They sent me a letter threatening with wage garnishment. Is there anything I can do to stop them. Every dollar counts for me now.

A: Check with your local courthouse if there is a judgment against you. Wells Fargo must have it before it can do anything. Also get your credit report to see if there is a judgment for this $2,800 balance. If there is no judgment, they must first take you to court and prove that you owe it. Now, since there was collateral involved and the sale and resale of it, Wells Fargo was required to notify you of the date of sale to give you an adequate time to redeem your car if you can. More importantly, you were to get a notice of the sale, stating that it was sold, with detailed costs and proceeds. Until you get those, you owe them nothing. As far as wage garnishment in Washington State, it is limited to greater of 25% of disposable earnings or thirty times the federal minimum wage.

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