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Wage assignments may be either voluntary or involuntary, depending on the situation. Such an automatic withholding plan may be used to pay back a variety of debt obligations, including back taxes, defaulted student loan debt, and both child and spousal support payments.
A wage assignment is a voluntary agreement between the employee and creditor where an amount is withheld from the employee's paycheck to satisfy a debt owed to a third-party recipient, whereas under a wage garnishment, the amount withheld from the employee's check is typically obtained through a court order initiated ...
A wage assignment is a voluntary or involuntary transfer of earned wages to pay debt, pay back taxes or even pay off student loan debt. Wage assignments may also be used to pay child or spousal support payments.
Lenders get a wage garnishment by taking the borrower to court. Wage assignments do not go through the courts. Instead, the lender just sends the borrower a notice & begins taking a portion of their wages.
A wage assignment is a voluntary agreement between the employee and creditor where an amount is withheld from the employee's paycheck to satisfy a debt owed to a third-party recipient, whereas under a wage garnishment, the amount withheld from the employee's check is typically obtained through a court order initiated ...