The Legal Environment of Business
Quiz 10: Consumer Credit Transactions
The federal wage-garnishment law states that an employee fired for having one debt garnished may sue the employer for damages.
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Garnishment,wage assignment,and confession of judgment are means of debt recovery.
A wage assignment is an agreement by an employee that a creditor may take future wages as security for a loan or to pay an existing debt.
Entry of a confession of judgment entitles the creditor to attach the debtor's assets to satisfy the debt.
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