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Unlike federal exemptions, the state exemptions for bank account garnishment vary by state. This can include the types of funds that are exempt from garnishment, the amount of funds that can be claimed as exempt, and whether the account can be seized at all.
Each state has different laws governing wage garnishment for both consumer and government claims. These laws, which can affect bank accounts and other assets, vary widely and change frequently. Always double-check your state's current regulations.
Garnishment Rule. Understand your bank's obligations when a creditor requests an account holder's funds be garnished - including which requests must be honored, and how to handle disputes.
This article details federal and particularly state law exemptions and other protections and strategies that limit these judgment creditors from garnishing consumer wages and freezing and seizing consumer bank accounts.
North Carolina. Texas. Pennsylvania. Some of these states – like South Carolina – prohibit collection on consumer debts through wage garnishment, regardless of what those debts are for or how they were acquired. What happens if you think your creditors are not following these laws properly?
Under federal law, the debtor may exempt up to 75% of his or her wages. Some states allow debtors to exempt even more. For state wage garnishment limits, see Nolo's Wage Garnishment topic. Public benefits. The debtor may exempt these benefits: Social Security, veterans, welfare, unemployment, and workers' compensation benefits. Retirement plans.
Stop or Lower a Garnishment. Are your wages or bank accounts are being garnished? You can use this online program to create the forms you need to ask the court for an exemption from the garnishment.
This article provides an overview of how garnishment laws work in Oklahoma, and how to apply garnishment to wages and bank accounts.
A creditor MUST have a judgment against you before it can get a garnishment. There are two basic limits on the amount creditors can take from your wages. First, they cannot take more than 25% of your take-home pay. Second, a creditor must leave you with at least $217.50 a week or $870 a month in net (take-home) pay.
Wage Garnishment Laws by State. Below are each state's laws for wage garnishments. Please note that the laws listed below are not complete or comprehensive. Many states have separate laws for wage garnishments concerning child support, student loans, and unpaid taxes. Additionally, states have varying statutes of limitations.