I am a regular "Joe" may be not a plumber but a regular average next door guy who is concerned with USA economy. Currently underemployed and with a $ 250 000 in student loans and with a bankruptcy filed not long time ago my passion for the state of the economy arouse ... My purpose is to gather information from different journals and or blogs and help those fellows americans interested in the economy have a broader perception of what really is happening.
Garnishment (the appropriation of your salary, saving account and other cash sources from creditors) is on the rise: in arizona it has jumped to 121% since 2001 while in atlanta 30% from 2008 to 2009. The only amount of money that is safe from been garnished is $ 217.00 the rest is taken by creditors and the costs of lawyers are added plus other extras as very high interests (> 27%) for years (usually 20) ... low income people are suffering the most: they have to manage to save $ 2 000 in order to pay for bankruptcy....anyway if the economy it is so resilient, strong and it is rebounding I wonder why there is an increase in garnishment .....
Garnishment (the appropriation of your salary, saving account and other cash sources from creditors) is on the rise: in arizona it has jumped to 121% since 2001 while in atlanta 30% from 2008 to 2009. The only amount of money that is safe from been garnished is $ 217.00 the rest is taken by creditors and the costs of lawyers are added plus other extras as very high interests (> 27%) for years (usually 20) ... low income people are suffering the most: they have to manage to save $ 2 000 in order to pay for bankruptcy....anyway if the economy it is so resilient, strong and it is rebounding I wonder why there is an increase in garnishment .....
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