Voluntary Wage Assignment Form

A voluntary wage assignment is a written contract in which you agree that a certain amount will be deducted from your paycheck to pay the creditor. Because it is voluntary, it is different from a garnishment. Since your employer's accounting department must make the deduction and send it to the creditor, talk to your employer first to see if this arrangement is acceptable. Some employers refuse to handle voluntary wage assignments because it complicates their payroll procedure. If acceptable to your employer, the voluntary wage assignment is better than a garnishment. In the eyes of the employer, you are taking the responsibility of arranging to meet your obligations, rather than being forced to pay your debts. Some employers find reasons to suspend or fire employees if their wages are garnished. Don't wait until then; make other arrangements with the creditor.

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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified creditors rights lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local creditors rights attorney to discuss your specific legal situation.

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WAGE ASSIGNMENT FORM

This agreement is hereby made between {Employee} at {Company, Address} (hereafter referred to as "Employee"), and {Recipient} at {Company, Address} (hereafter referred to as "Recipient").

As of {date}, the Employee hereby voluntarily assigns and transfers {monetary amount} from {type of income/wages} to the Recipient every {frequency}. (Or, the Employee hereby voluntarily assigns and transfers {percentage} of {his/her} total wages from {type of income} to the Recipient.

The Employee will transfer funds through {transaction/program type} automatically on the {first/Monday/etc.} of every {month/week/etc.}. The payments will occur until the entire amount of {amount} is paid, and then they will cease automatically.

According to {state or workforce law}, the Employee shall not be obligated to pay more than {amount} per {frequency}.

If the Employee fails to pay the full amount each period, the following penalties shall occur:

{Penalties}

The terms and conditions laid out in this contract constitute the entire agreement. Any additions, waivers, or conditions must be put forth in writing and signed by both parties.

_________________________________________
(Employee's Signature)

_________________________________________
(Recipient's Signature)

_________________________________________
(Date)

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