Paying off a garnishment early

[Anonymous]

Hi everyone,

I'm so grateful for this forum and all the advice and assistance everyone gives.  I hope to be there someday and dispense with advice and useful tips for those who need it.

I am currently paying a garnishment through payroll deduction.  By my calculation as of tomorrow (payday) I have a remaining balance of 5732.00.  I'd like to pay this sooner than later.  I have the funds available to pay it off this month.   Here's my question.  Can this be done?  Could I pay this off earlier?  It would seem to me that the judgement creditor would rather have all the money now rather than have to wait another 4 months to receive it all.

Anyone have any experience doing this?  I'd like to be done with it, I find the whole thing incredibly stressful and I just want it to be done and over with.  This board has helped steer me in the right direction and my scores have improved almost 50 pts (hovering around 670!).  It would be nice to be able to move on from this and not have it hanging over my head any longer.

Thanks,

Em

[RobertEG]

Yes.

Simply contact the attorney for the judgment creditor and request a payoff amount. It might be a bit higher than the remaining principal balance, as interest is normally permitted during garnishment.

Remit the debt balance in full to the judgment creditor's attorney, who must then file a notice of satisfaction of the judgment with the court and your employer.

Once the notice of satisfaction is filed with the court and received by the employer, garnishment must be terminated.

[Anonymous]

Thanks for the reply.  I really appreciate it and it's great to know I could resolve this soon!! Since I get paid every two weeks, is it possible that the payoff and the garnishment could cross?  Does that make sense?  If I request that payoff amount and make the payment can they rescind the garnishment order quickly enough to prevent another payment from coming out of my check?  Could I ask for the payoff amount and ask they not include the garnishment amount to be collected 5/19?  This way I could start June with no garnishment.

Thanks again!

Em

[RobertEG]

Yes, there can, and usually is, an overlap period.

I believe that most states have provisions for your employer, after notice from plaintiff's attorney of satisfaction of judgment, to hold the normally garnished amount in escrow until the formal discharge of the debt and termination of the garnishment order is completed.

[Anonymous]

Thank you RobertEG!!   Overlap period were the words I was looking for but couldn't get out on paper.   

I'm sorry for such silly questions but should this be done my mail or is it just a matter of a phone call for the payoff amount (or fax)? 

At at this point I will plan on the garnishment coming out for the 5/19 pay period and possibly the 6/2 period.

Thanks again for all your help!

Em

[RobertEG]

It does not matter if the statement of the payoff amount is oral or in writing.

The essential part is that when you send it to the attorney, they will accept it as agreed payment in full of the entire judgment debt.