DEGARNISHMENT Meaning and
Definition
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Degarnishment is a legal process that involves the seizure or restriction of an individual's wages, bank accounts, or other assets in order to satisfy a debt or legal obligation. It is a means by which a creditor can obtain payment from a debtor by directly deducting or garnishing their income or funds.
In degarnishment, the debtor's employer or financial institution is notified of the debt owed, and they are legally obligated to withhold a certain portion of the debtor's earnings or freeze a specific amount of their funds. The seized money is then transferred directly to the creditor to satisfy the outstanding debt. This process typically involves a court order or legal judgment in favor of the creditor.
Degarnishment can be initiated for various types of debts, including unpaid loans, child support arrears, or outstanding taxes. It provides the creditor with a legal remedy to collect owed funds when other attempts have failed.
It is essential to note that degarnishment is subject to legal restrictions and limitations designed to protect the debtor from excessive financial hardship. These laws often specify the maximum amount that can be garnished from an individual's earnings or the amount that must be left exempt from garnishment to cover basic living expenses.
Overall, degarnishment is a legal process used to collect outstanding debts by seizing a portion of a debtor's wages or funds, offering a means for creditors to obtain repayment.
Common Misspellings for DEGARNISHMENT
- segarnishment
- xegarnishment
- cegarnishment
- fegarnishment
- regarnishment
- eegarnishment
- dwgarnishment
- dsgarnishment
- ddgarnishment
- drgarnishment
- d4garnishment
- d3garnishment
- defarnishment
- devarnishment
- debarnishment
- deharnishment
- deyarnishment
- detarnishment
- degzrnishment
Etymology of DEGARNISHMENT
The word "degarnishment" is derived from the combination of two French words: "dé" meaning "removal" or "un-" and "garnir" meaning "to garnish" or "to furnish". In English, the term "garnish" refers to the act of taking legal action to seize a debtor's wages or assets as a means of satisfying a debt. Therefore, "degarnishment" represents the opposite action, namely the removal or release of the garnishment.
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