The Consumer Credit Protection Act has nothing to do with your credit. It does have to do with the garnishment of employment wages. It is also knows as the federal wage garnishment law. Basically this Act states that an employer is not allowed to fire an employee who is having their wages garnished. This Act was passed in 1968.
So how do wages become garnished?
If an individual owes money to a credit card company, the IRS, Child Support and lenders, money will be automatically deducted from their paycheck. If a debtor is not working their banks accounts will be frozen and money removed. This Act also limits the amount of money that can be removed from one's check.
Innovative Credit Consultants has posted a detailed article about this Act on-
http://www.icreditinc.com/knowledge/articles/consumer-credit-protection-act
Read it in full to get all the facts about the CCPA.
Credit education starts with ICC! Innovative Credit Consultants presents must read information for consumers nationwide. ICC is devoted to making credit count! Get the right information about your credit report today www.icreditinc.com.
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