Hi all~
Recently, my husband lost his job. He has since started a new one, at a fraction of the pay. Since this has occured, we are unable to pay our bills...we are currently considering giving back my car to the bank. (payment is $460/mo)
We went through a bankruptcy almost 2 years ago, when he had a decrease in pay. At the time, we signed a reaffirmation agreement on my SUV. We are upside down on it by A LOT now, hence the reason we are considering giving it back to the bank.
From everything that I've read, we will probably be exempt from the wage garnishment because we currently (and will continue to) receive food stamps. (We live in WI and this is an exemption law)
My question is this: Does the reaffirmation agreement affect a wage garnishment at all?
Recently, my husband lost his job. He has since started a new one, at a fraction of the pay. Since this has occured, we are unable to pay our bills...we are currently considering giving back my car to the bank. (payment is $460/mo)
We went through a bankruptcy almost 2 years ago, when he had a decrease in pay. At the time, we signed a reaffirmation agreement on my SUV. We are upside down on it by A LOT now, hence the reason we are considering giving it back to the bank.
From everything that I've read, we will probably be exempt from the wage garnishment because we currently (and will continue to) receive food stamps. (We live in WI and this is an exemption law)
My question is this: Does the reaffirmation agreement affect a wage garnishment at all?
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