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Today’s $$ ‘Word’: Wage garnishment.

Wage garnishment: If you owe money on a credit card or a loan, and don’t pay it back, the lender can go to court to get an order that allows them to take a chunk out of your paycheck until the debt is repaid. This is called a “garnish” (I know, not cute like the other meaning of “garnish” as in to decorate). This is how bill collectors get paid whether you want to pay them or not.

By | 2017-01-23T08:55:11+00:00 October 6th, 2014|Word of the Week|0 Comments