According to a recent study by ADP, it would appear that garnishments are at or near an all-time high. And garnishments are not limited to child support or alimony but are being generated due to consumer debt, student loans and the like. While the reason for the increase is not certain, it appears to be directly related to the Great Recession. As people are getting back on their feet, their debts are coming back to haunt them.
As an employer, business owners need to be able to cope with such garnishments in a cost-effective manner. Having proper procedures in place in advance will facilitate this and decrease the potential drain on resources.
For more information about the study, click here.