Business, Legal & Accounting Glossary
A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person’s wages can be deducted.
a court order to an employer to withhold all or part of an employee’s wages and to send the money to the court or to the person who won a lawsuit against the employee.
legal A judgment that a third party should pay money owing to a defendant directly to a plaintiff.
n. the entire process of petitioning for and getting a court order directing a person or entity (garnishee) to hold funds they owe to someone who allegedly is in debt to another person, often after a judgment has been rendered. Usually, the actual amounts owed have not been figured out or are to be paid by instalments directly or through the sheriff.
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This glossary post was last updated: 28th April, 2020 | 0 Views.