Understanding Garnishments and Levies

Talk to Us About Stopping Creditor Actions

When they follow the proper procedure, creditors are allowed to garnish wages and seize certain assets from debtors. Too often, debtors are unprepared when this happens. If you think you may be at risk for wage garnishment or asset seizure, speak with an attorney right away.

At Prescott Pearson & Tande, PA, we have helped thousands of people in Minnesota fight back against wage garnishment, repossessions, lawsuits and levies. We understand that these actions have an immediate and drastic effect on people's lives. We want you to have all the protection you are afforded under the law. Please call 651-968-8096 or 888-366-0827 to schedule a free consultation.

Are Your Assets at Risk?

Before a creditor can take action with wage garnishment or a levy, a judgment must be entered. The creditor must give the debtor a 10-day notice before wage garnishment can begin. However, creditors may immediately levy financial and other assets.

Wage garnishment allows a creditor to take up to 25 percent of your take-home pay directly out of your paycheck. You must work quickly to deal with the garnishment. If you act within the 10-day grace period, you can prevent garnishment. Filing bankruptcy will stop existing wage garnishment as well.

A levy allows creditors to seize nonexempt assets such as bank accounts, motorcycles, boats or nonhomestead property. There is no grace period for a levy. If your bank account was levied, you can get the money back if you prove that exempt funds such as medical assistance or other government assistance were in the account. Fortunately, the law allows only one levy against a debtor at a time. The automatic stay provided by bankruptcy will halt collection actions, including levies.

"This Is All We Do, and We Do It Well."

Call for a Free Consultation Today

  • Minneapolis-St. Paul Area: 651-968-8096
  • Minnesota Toll Free: 888-366-0827

Please call us at the numbers above or contact us online to schedule a consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.