Bad Credit? - Repair it here yourself!

There're many reasons you may want help for bad credit. We're here to help you understand what affects credit, what makes credit bad, how and what entities define your credit, guide you through the credit definitions, financial concepts, common misconceptions and provide you with information and tools that will help to solve your credit problems. Get help for bad credit now! To achieve this, we provide you with Free Access to a wealth of credit related content, forms, tools and calculators. We show you how to improve your bad credit step by step, reestablish your ability to borrow monies, how and where obtain loans, credit cards, mortgages and other financing. Repair Credit now!

Writ of garnishment explanation

Tue Dec 2, 2008 10:12PM | By Tony

See more in Debt Relief | Permalink | Email | Comments (0)

Q: What does 'writ of garnishment' means? I heard that term few times on TV.

A: Basically it is a process which is used to seize the defendant property that is in the possession or control of a third party. A third party, either the person or corporation in possession of the property of the defendant is called a garnishee. A perfect example of a writ of garnishment is a court order which orders your employer (garnishee) to garnish your wages from each paycheck and transfer the amount to your creditor. Writ cannot be granted without a judgment, so your creditor must sue you and obtain such a judgment. And you become a judgment debtor.

Post a comment

Name:

Email:

URL:

Remember personal info?

Comments:

Please enter the code as seen in the image above to post your comment: