If they win, or if you do not dispute the lawsuit or claim, the court will enter an order or judgment against you. The order or judgment will state the amount of money you owe. The lender or collector can then get a garnishment order against you. Wage garnishment happens when your employer holds back a legally required portion of your wages for your debts.
Bank garnishment occurs when your bank or credit union is served with a garnishment order. The bank or credit union then holds an amount for the payday lender or collector as allowed by your state law.
Each state will have different procedures, as well as exemptions from garnishment, that apply to both the wage and bank garnishment process. For example, under federal law certain benefits or payments capitec multi loan apply online generally exempt from garnishment. Be aware that some payday lenders have threatened garnishment in order to get borrowers to pay, even though they do not have a court order or judgment.
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