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garnishment |
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garnishment A process involving three parties: • Judgment creditor. The party who takes a judgment against a debtor (can also be the IRS or a state's Department of Revenue). • Judgment debtor. The party who owes the debt. • Garnishee A party who owes money or holds property belonging to the judgment debtor. In this legal process, the judgment creditor obtains a court order requiring the garnishee to turn over funds or property to the judgment creditor instead of to the true owner, the judgment debtor. The most common garnishments are against employers, requiring them to withhold a portion of wages and salary and pay it to the creditor rather than to the employee. The second most common garnishment is against a bank, ordering it to turn over bank account funds to the judgment creditor or the IRS. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Payroll Service Bureau Program -- In addition to electronic tax filing and payment capabilities, UBCC allows users to automatically generate tax payment checks (as well as health savings accounts, child support, garnishment and other third-party payments via check or ACH payment) directly to the appropriate authority. Simply put, a garnishment is a court order for an employer to withhold wages to be applied as payment of debt. But outside of federal bankruptcy things remain murky, and there still is uncertainty about whether retirement funds are subject to state attachment and garnishment proceedings. |
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