An assignment of wages should be contained in a separate written instrument, signed by the person who has earned or will earn the wages or salary. The assignment should include statements identifying the transaction to which the assignment relates, the personal status of the assignor, and a recital, where appropriate, that no other assignment or order exists in connection with the same transaction.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The Louisiana Assignment of a Specified Amount of Wages refers to a legal document that allows individuals or entities to assign a specific portion of their wages or salary to a designated creditor. This assignment serves as a means to repay a debt or fulfill a financial obligation. The assignment is typically voluntary and requires the consent of both parties involved. In Louisiana, there are two main types of assignments of a specified amount of wages: 1. Voluntary assignment: Under this type of assignment, an employee (assignor) voluntarily agrees to assign a specific amount or percentage of their wages to a designated creditor (assignee). This can be done to repay a loan, settle a debt, or fulfill any other financial obligation. The assignment is typically initiated by signing a written agreement between the assignor and assignee, which details the terms and conditions of the assignment. 2. Garnishment of wages: This type of assignment occurs when a creditor obtains a legal order, often through a court judgment, to garnish a specified amount from an employee's wages or salary. The employer becomes the garnishee and is required to withhold the assigned amount from the employee's earnings and remit it directly to the creditor until the debt is satisfied. Louisiana's law sets limits on the percentage of wages that can be garnished to ensure that employees have a certain amount of income protected from garnishment. The Louisiana Assignment of a Specified Amount of Wages provides a mechanism for individuals to manage their debts or obligations by assigning a specific portion of their wages to designated creditors. This can help borrowers meet their financial responsibilities in a structured manner while ensuring the rights and protections of assignors are respected. It is crucial for individuals considering such assignments to familiarize themselves with relevant Louisiana laws and consult legal counsel to ensure compliance and protect their interests.
