Wage assignment(redirected from Wage Assignments)
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A loan agreement provision allowing the lender to deduct payments from an employee's wages in case of default.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A voluntary deduction from a person's paycheck. One may contribute to a retirement account, repay a debt, or make any number of other payments through wage assignment. It contrasts with wage garnishment (which is done for taxes or child support, for example) because it is voluntary.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved