Financial News and Information


Cities That Are Best For Finding A Job - Cities That Are Bad For Finding A Job

2014 Holiday Season Hirings - Walmart, Amazon and More. Find a Job

Credit Card and Debit Card Numbers Stolen - Payment System Data Security Breaches

Wage Garnishment Of Paycheck - Ordinary, Child Support and Alimony

Student Loan Wage Paycheck Garnishment


Wage Garnishment - Ordinary, Child Support and Alimony


Wage garnishment laws apply to all 50 states, the District of Columbia(Washington D.C.), and all U.S. territories. This means that your wages can be garnished, no matter, where you are, if you are a U.S. citizen.


What is wage garnishment?

Wage garnishment is a legal means by which, money is taken out of your paycheck, to satisfy your debts. Garnishments are usually initiated by court order. A judge deems that you owe money and that debt is satisfied through a wage garnishment. Your debt may be to the IRS, a State agency or other creditors.


How much of my paycheck can be garnished?

By law, any amount of money that is garnished has to come from your "disposable income". "Disposable income refers to what's left of your pay after certain deductions are taken out. These deductions, include taxes, state unemployment insurance, social security and specially designated retirement program. For "ordinary" garnishment (not child support, taxes or bankruptcy), up to 25% of your paycheck, over the amount, of the minimum wage ($7.25 as of July 24, 2009) * 30, can be garnished.

Let's do the math. Let's say your "disposable income" after all deductions is $1,500 per month and you have ordinary garnishment.



$7.25 * 30 = $217.50.

$1,500 - $217.50 = You have $1,282.50 left.

25% of $1,282 = $320.63 can be garnished.


Child Support or Alimony Paycheck Garnishment

For child support garnishment up to 50% of disposable income can be garnished, if you are supporting another child. Up to 60% can be garnished if you are not supporting another child.


You Rights and Protections Under the Wage Garnishment Laws

Your employer cannot terminate your employment because of the fact that your wages are garnished, no matter, what agency or party is garnishing your wages.



Student Loan Wage Garnishment

The Department of Education is authorized to garnish 10% of your disposable income, pursuant to The Higher Education Act, which was made law, in 1995. Student loan garnishment is an exception to the 25% wage garnishment maximum rule. For example, if you attended two different universities and you owe different student loans, your employer cannot garnish 20% of your disposable income - the garnishment limit is still 10%.



Credit Card and Debit Card Numbers Stolen - Payment System Data Security Breaches


Within a day of Dairy Queen announcing that its payment system had been compromised, Kmart also announced that customers, who shopped in their stores from September 1st to October 9th, have had their credit card and debit card numbers stolen. Hackers, who sell these cards, often charge $25 to $100 for them on the black market. In recent years, credit card and debt card number theft, has become daily news.

So far this year JPMorgan Chase, Target, Kmart, Michaels Crafts, Neiman Marcus, PF Chang's, Supervalu, Home Depot and Dairy Queen customers, have had their credit card and debit card numbers, stolen. Target's breach is estimated to have generated $146 million in expenses, since the beginning of August.

What can you do, if your credit card or debit card number has been stolen?

The breach is far worse to repair for people, whose debit cards have been stolen because cash is taken directly from their bank account. This means bounced mortgage checks, automobile payment checks, tuition checks, grocery bill checks - all incurring overdraft fees. Experts advise consumers, who made purchases with any of these retailers or conducted business with any of these companies, to accept the Free Credit Monitoring, offered by the companies. In addition, consumers are advised to diligently check their banking and credit card accounts, daily.



2014 Holiday Season Hirings - Walmart, Amazon and More. Find a Job


Are you interested in earning extra money this holiday season? 2014, is proving to be the year of the seasonal worker. Experts estimate that approximately 400,000 workers will be gainfully employed during the holiday season. Some companies even plan to keep these seasonal workers, into 2015.

Amazon announced that, it expects to hire 80,000 holiday workers. The largest hire will come from Macy with 86,000 workers. Other companies such as Walmart, Gamestop and ToysRUS, will hire around 100,000 holiday workers, together.



Cities That Are Best For Finding A Job - Cities That Are Bad For Finding A Job


With the holiday season upon us, those who are unemployed, have an especially difficult time, putting on a happy face. In the last few weeks the unemployment rate has drop by 5%, meaning that more people employed. According to research conducted by Indeed.com, where you live is a major factor of whether you can find a job. Interestingly enough, cities with better weather, like Miami, Los Angeles can fewer posted job listings than other cities. For example, Miami had 23 job postings for every 1000 residents, while Washington D.C. had 83 postings for every 1000 residents.

Source: Indeed.com

Best city to find a job

1. San Jose, CA

2. Raleigh, NC

3. Washington, DC

4. Boston, MA

5. Denver, CO

City with less job openings and therefore you will find more difficult to find a job

1. Miami, FL

2. Los Angeles, CA

3. Riverside, CA

4. New Orleans, LA

5. New York, NY




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