wage assignment

Definition of "wage assignment"
  1. A financial procedure where an employee authorizes a chunk of their salary to be transferred to another party, often a creditor, prior to the employee receiving the pay
How to use "wage assignment" in a sentence
  1. The debtor accepted a wage assignment to pay off his loan over time.
  2. The company implemented a wage assignment to streamline child support payments for its employees.
  3. A wage assignment can help creditors ensure they receive the money they are owed.

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