What happens to a wage garnishment if you change jobs?

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What happens to a wage garnishment if you change jobs?

Changing jobs may interrupt an active wage garnishment, but it typically doesn't end that process for good. /iStockphoto It makes sense that more Americans are falling behind on their bills right …

Changing jobs may interrupt an active wage garnishment, but it typically doesn't end that process for good. /iStockphoto It makes sense that more Americans are falling behind on their bills right now, as household debt levels are climbing , credit card interest rates are elevated and inflation is rising, which is adding more strain to budgets. As more borrowers fall behind on their bills, debt collector activity is picking up. For some borrowers, that simply means dealing with annoying phone calls and letters about their unpaid balances. For others, that means increasing balances due to compounding interest and fees. In certain cases, though, the fallout is more serious, resulting in a court-ordered bank levy or wage garnishment instead. For those who are already living paycheck to paycheck, having a portion of their earnings withheld to repay debts can quickly turn a manageable financial situation into a serious one. At the same time, though, many employees are changing jobs in search of higher pay, more stability or better benefits in today's uneven labor market. But for borrowers dealing with debt collection lawsuits or active garnishments, a job transition can raise a complicated question: What actually happens to the garnishment when you leave your employer? The answer isn't always straightforward. Below, we'll outline what you can expect to happen if you're dealing with a wage garnishment amid a job change. Learn how to get rid of your unpaid debt for less now . …

Original source: CBS News Top

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