Debt Relief:Definitions

Definitions and Common Terms

Garnishee or Garnishment

• A creditor can legally take money from your paycheck.

Sue or suit

• The creditor takes legal action against you to get the money owed

Liens

• The creditor can legally claim the property of the debtor until the debt is paid by placing a lien on the property

Bankruptcy

    *Chapter 7
    *Chapter 13