We have changed our privacy policy. In addition, we use cookies on our website for various purposes. By continuing on our website, you consent to our use of cookies. You can learn about our practices by reading our privacy policy.


Garnishment

When money gets taken out of your paycheck to pay for loans and financial obligations because you've fallen behind.

In some cases, if you owe money (like, say, to the government), a court can decide to have your wages garnished, which means you end up with a tinier paycheck than ever.

Find other enlightening terms in Shmoop Finance Genius Bar(f)