New York wage garnishment laws limit how much a credit card issuer can deduct from a debtor’s paycheck. The amount permitted to be garnished in NY is the lesser of 10% of gross wages (Pre-tax dollars) or 25% of disposable income (income post-tax and social security deductions – i.e., net dollars), however, irrespective of whether gross or net income is used, the total wage garnishment cannot exceed thirty (30) times the State or Federal Minimum Wage.
NEW YORK
Notwithstanding the above, if the credit card debtor’s disposable income is less than thirty (30) times the minimum wage, it cannot be garnished. In New York City at present the minimum wage is $16.00 per hour and in the rest of the State $15.00 per hour.
Furthermore, a credit card issuer cannot enforce a wage garnishment against a credit card debtor if the garnishment means the credit card debtors disposable income will fall below $480.00 in any given week.
Note: only one creditor can garnish a credit card debtor’s salary at a time.
New York wage garnishment laws limit how much a credit card issuer can deduct from a debtor’s paycheck. The amount permitted to be garnished in NY is the lesser of 10% of gross wages (Pre-tax dollars) or 25% of disposable income (income post-tax and social security deductions – i.e., net dollars), however, irrespective of whether gross or net income is used, the total wage garnishment cannot exceed thirty (30) times the State or Federal Minimum Wage.
Remember answering the lawsuit is critical to avoid the credit card company from obtaining a default judgment or judgment of any sort. Also, the time to raise your defenses is at the time of Answering the Credit Card Debt lawsuit. If you fail to raise the defenses you may be waiting them for good.
Notwithstanding the above, if the credit card debtor’s disposable income is less than thirty (30) times the minimum wage, it cannot be garnished. In New York City at present the minimum wage is $16.00 per hour and in the rest of the State $15.00 per hour.
Furthermore, a credit card issuer cannot enforce a wage garnishment against a credit card debtor if the garnishment means the credit card debtors disposable income will fall below $480.00 in any given week.
Note: only one creditor can garnish a credit card debtor’s salary at a time.
