A lot of questions have come into the office regarding credit cards and garnishments. The most common: "can a credit card company garnish my wages?"

The simple answer: yes.

Credit card companies, like any other person or entity, can (and will) get judgments against you for delinquent credit card debts. While this can take months or even years to accomplish, be advised that it does happen, quite frequently.

Think of it this way:

A credit card company is like the mafia (i.e. they charge exhorbitant interest rates and lend small amounts of money). The company lends money based on the fact that you’re going to pay it back. The amount of interest charged depends (yeah right) on the value of your credit rating. Lower ratings = higher interest rates. If you default (or don’t pay the loan back) they’re going to come after you for their money. While they don’t use "Vinnie the Leech" to break your bones and "collect" their debt, they are prone to use other strong-arm tactics, like hiring law firms to sue you.

Most often, with a little "grease" you can move the credit card wheel to make arrangements to repay your debts. The best time to start is before they take legal action, but I’ve seen situations where the card company was willing to adjust their garnishment requirements as the judge is making changes to the garnishment.

The most important thing for you to do when faced with this situation (after kicking yourself thousands of times for being in it to begin with) is to talk with a qualified consumer attorney. The attorney will help you navigate the collection nightmares, and ensure that the creditor is performing and acting in accordance with the Fair Debt Collection Practices Act.