You’re facing the possibility of a wage garnishment but want to know more about how to prepare for it. In today’s blog, experts with Groce & DeArmon, P.C., will discuss wage garnishment and exemptions that exist for it in Missouri. You will understand what exemptions you might be qualified for and how to reach out to us about them.
Disposable Earnings
Limits on disposable earnings keep maximum garnishment at 25%. This is of disposable income, meaning any funds not reported for basic living expenses.
Head of Household Disposable Earnings
An individual living as a resident of the state and filing taxes as Head of Household is only subject to lose 10% of their disposable income to garnishment.
Child Support
The Consumer credit Protection Act establishes the limits regarding wage garnishments associated with child support orders. Child support garnishments can be as high as 50-60% of an employee’s disposable earnings for the week. This is dependent on whether other individuals rely on that earner’s funds.
Other Exemptions
These include: funds of the debtor on deposit with a bank or financial institution in an account in which all funds are:
- Deposited electronically on a recurring basis
- Reasonably identified as funds exempt from garnishment pursuant to section 513.430.1(10)(a), (b), or (c) RSMo or subject to the exemptions under Title 31 C.F.R. Part 212.” Id.
- Missouri also exempts certain types of individuals and entities from being subject to liability as a garnishee.
Talk to Groce & DeArmon, P.C.
Suppose you have further questions on wage garnishment, what exemptions you might have, or are requesting assistance with organizing your financial assets. In that case, we can discuss your options and help you determine the best course of action for your situation. Our first consultation is always free. Contact Groce & DeArmon, P.C. or call toll-free 1-800-640-3706 in Missouri or (417) 862-3706.
