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.
Mississippi Assignment of a Specified Amount of Wages is a legal document that allows an individual to assign a specific portion of their wages to another party. This arrangement is typically made with the intention of repaying a debt or fulfilling a financial obligation. The document outlines the terms and conditions of the wage assignment, including the specified amount that will be deducted from the individual's wages and the duration of the assignment. In Mississippi, there are two types of wage assignments commonly used: voluntary and involuntary. 1. Voluntary Wage Assignment: This type of wage assignment is an agreement willingly entered into by the debtor (the individual assigning their wages) and the creditor (the party to whom the wages are assigned). It is often seen in situations where an individual has borrowed money and agrees to have a specific amount deducted from their wages until the debt is paid off. Voluntary wage assignments can also be used to satisfy other financial obligations, such as child support payments or tax debts. 2. Involuntary Wage Assignment: In some cases, a creditor may seek a court order to have a specific amount of a debtor's wages assigned to them without the debtor's consent. This typically occurs when the debtor has failed to repay a debt or meet their financial obligations, and the creditor pursues legal action to secure the repayment. Involuntary wage assignments require a court order and can only be issued for certain types of debts, such as child support or unpaid taxes. To initiate a Mississippi Assignment of a Specified Amount of Wages, both parties must complete a written agreement that clearly states the details of the assignment. This includes the debtor's name, employer's name, the specified amount to be assigned, and the duration of the assignment. The document should be signed by both parties and may require notarization. It is important to note that Mississippi has specific laws governing wage assignments, including limitations on the amount that can be assigned to ensure the debtor's basic living expenses are not compromised. Additionally, the debtor's employer must be notified of the assignment and comply with the terms set forth in the agreement. In summary, a Mississippi Assignment of a Specified Amount of Wages is a legal arrangement allowing for the assignment of a specific portion of an individual's wages to repay a debt or fulfill a financial obligation. The two types of assignments commonly used are voluntary, where both parties agree to the arrangement, and involuntary, which requires a court order. Compliance with Mississippi's laws and regulations is essential to ensure the validity and enforceability of the assignment.
