Are your monthly car payments driving you to the brink of financial despair? If so, you’re not alone. Many people facing overwhelming debt turn to the idea of debt consolidation as a potential way out.
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Wage garnishment is a stressful situation where a portion of your paycheck is withheld to repay a debt. For consumer debt such as credit card, medical, or personal loan debt, the employer may garnish up to 25% of disposable earnings or exceeding 30 times the federal minimum wage.
Continue reading “Can Debt Consolidation Stop Wage Garnishment in California?”
Alternatives to bankruptcy in California include debt consolidation loans, debt management plans, credit counseling, negotiating directly with creditors, and exploring legal options like loan modifications or settlements.
When you are struggling under the weight of crushing debt, it is smart to consider every possible option to get control over your finances. You have already tried to stay current by making minimum payments, but you were unable to make a dent in the balance after paying interest and fees. There may come a point that you need to look at legal remedies, and bankruptcy is a solution. However, many debtors in your position will also want to know about the alternatives to bankruptcy in California.
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