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    deepstuff1's Avatar
    deepstuff1 Posts: 1, Reputation: 1
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    #1

    Oct 28, 2009, 02:40 PM
    Possible lean on my house
    Hello! I hope that someone can help me with this. I live in Bergen County NJ. A credit card company is suing me and is attempting to possibly have a lean placed on my house. If they succeed and the court grants them a lean... what exactly does this mean? Can they take my house or have my property liquidated to get the money owed them?
    My 2nd question. If the court garnishes my wages, how much can they garnish from my salary? What's the limit?
    Thank you!
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Oct 28, 2009, 04:37 PM

    It's a lien, not a lean. And, yes, it's a Judgment filed against your property. It simply sits there, uncollected, until the property is sold, at which time it is collected from the top of the proceeds, after the mortgage.

    The garnishment info is:

    "WAGE GARNISHMENT EXEMPTION: Garnishment may not exceed 10% of gross salary. Monies may not be withheld if disposable weekly earnings are less than $154.50 per week or $309.00.00 every 2 weeks


    MAXIMUM INTEREST RATE: Legal: 6%"

    Wage Garnishments -- Bankruptcy Exemptions -- State Statutes -- New Jersey
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