How do I calculate 25% of my disposable income?

Identity was stolen. Person took out paday loans. Judgements have been filed. My employer got a notice to withold 25% of my income. How do I calculate that? I was told I can't fight this. I am a single mom of two and only have $134 at the end of the month for any "extra" expenses(extra gas, b-day gifts, tune up and oil changes) I fear I will not be able to make ends meet and be forced to take a second job. I have Police Reports stating my identity was stolen but they said that doesnt matter. Help! I need to do the math and see what I can forgo paying and for how long. The total debt for this garnishment is $623.00 w/ 12% annual interest.

First, you need to find out if it's 25% off your take home pay or your gross pay (meaning your pay before taxes and other stuff is taken out). Then you multiply that number by 0.25.

Example: Your take home pay is $1200 a month.
1200 X 0.25= 300
They would withhold $300, leaving you $900 to live on.

If you owe $623 plus 12% interest, it might take you about 3 months to pay it off due to the interest-- which means you might need a second job to make ends meet.

Even if you have no choice but to repay the debt, you should be able to negotiate better payment terms. 25% of your income seems extraordinarily high for a debt of $623. You might need to present them with your monthly budget and show them you only have $134 left over. They might choose to take all of that $134 or only some of it. That may still mean you need a second job to make ends meet.

get a lawer

divid your income by 4....

Get an attorney now............

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