Garnishment Exemption Worksheet {CV-426}

Garnishment Exemption Worksheet Note: You may use this worksheet to calculate how much of your earnings are subject to garnishment. You are not required to complete this worksheet or send it to the garnishee or the creditor. Instructions: · First, calculate your total earnings by using Schedule 1 (Calculation of Income). · Then calculate the amount of your earnings subject to garnishment by using Schedule 2 (Calculation of Amount Subject to Garnishment). · Finally, to determine how much, if any, of your earnings are exempt from garnishment, use Schedule 3 (Calculation of Poverty Guideline Exemption) and the separate Poverty Guidelines for Earnings (form CV-427). Schedule 1. Calculation of Income List in Column A earnings after subtracting Social Security, Federal and State Income Taxes. For both Columns A and B, calculate amounts on the same basis (weekly, biweekly, semimonthly, monthly) as the debtor's earnings. Column A List in Column B all income other than earnings. Column B 1. Debtor 1a. 1b. 2. Spouse (if living in same household as debtor) 2a. 2b. 3. Other legal dependents 3a. 3b. 4. TOTAL EARNINGS 4a. 4b. 5. Debtor's disposable earnings amount from line 1a 5. Schedule 2. 6. 20% of amount on line 5 or the amount by which line 5 exceeds thirty Calculation of times the federal minimum hourly wage, whichever is less. (Currently the federal minimum hourly wage is $7.25. Use same basis as in Schedule 1 of Amount Subject to weekly, biweekly, semimonthly, monthly). Garnishment 7. 6. 25% of amount on line 5 7. 8. Court ordered assignments of child support and/or maintenance that you pay. Use same basis as in Schedule 1 (weekly, biweekly, semimonthly, monthly). 9 8. Subtract amount on line 8 from line 7 9. 10. Insert the lesser amount of line 6 or line 9. This is the amount subject to garnishment. If this amount is "0" or less than zero, then you do not have to complete Schedule 3 because all earnings are exempt. 11. Disposable earnings from line 4a 11. 10. Schedule 3. Calculation of Poverty Guideline Exemption 12. Other income from line 4b 12. 13. Add line 11 to line 12 13. 14. Child support and/or maintenance from line 8 14. 15. Subtract amount on line 14 from line 13 for household income 15. 16. Amount subject to garnishment from line 10 16. 17. Poverty Guideline Amount for pay period of debtor and size of family (See current Poverty Guideline Chart) 18. Add lines 16 and 17 17. 18. 19. Compare line 15 and line 18. If line 18 is greater than line 15, proceed to line 20. If line 15 is equal to or greater than line 18, then the amount on line 10 is the amount subject to garnishment. 20. Subtract line 17 from line 15. This is the amount subject to garnishment if the garnishment causes the income to fall below the poverty guidelines. If 20. this amount is "0" or less than zero, then all earnings are exempt from garnishment. CV-426, 10/10 Garnishment Exemption Worksheet Wis. Stats. §812.34(3) Page 1 of 1 American LegalNet, Inc. www.FormsWorkFlow.com This form shall not be modified. It may be supplemented with additional material.