The garnishment exemption limits in Germany were adjusted again on 1 July 2024. These changes affect all persons who are or could be affected by wage garnishment. The garnishment exemption limits play a decisive role in determining how much of your income remains unaffected in the event of garnishment and is therefore available for living expenses.
What are garnishment exemption limits?
Garnishment exemption limits determine which part of your income is protected from garnishment. This means that a debtor is allowed to keep a minimum amount of their income to cover their living expenses despite existing debts. These exemption limits are set by law and are based on net monthly earnings and the number of dependants.
The new exemption limits from 1 July 2024
With the adjustment on 1 July 2024, the Federal Ministry of Justice has increased the garnishment exemption limits to take account of the increased cost of living. The exact amounts can be found in the current brochure on the garnishment exemption limits, which has been published on the website of the Federal Ministry of Justice. This adjustment is made regularly and is intended to ensure that those affected have an income that is sufficient to cover their living expenses despite the garnishment.
Example calculation for the new garnishment exemption limits
Let’s assume a single person with no maintenance obligations has a monthly net salary of 1,500 euros. From 1 July 2024, this person could, for example, keep €1,340 (notional amount) under the new exemption limits, while the remaining amount is used for debt seizure.
Influence of maintenance obligations
The amount of the garnishment exemption limits also varies depending on the number of people for whom the debtor is liable to pay maintenance. The more maintenance obligations there are, the higher the exemption limits are. This ensures that families with children can also retain sufficient income to cover their living expenses.
Important information for those affected
If you are affected by a garnishment, you should regularly inform yourself about the current garnishment exemption limits. You can find this information on the website of the Federal Ministry of Justice or in the annually updated brochure.
Conclusion
The adjustment of the garnishment exemption limits is an important step towards guaranteeing the protection of debtors and ensuring that a living wage remains possible despite financial difficulties. Stay informed and use the resources available to know and protect your rights.
With this information, you are well equipped to understand the new garnishment exemption limits from 1 July 2024 and act accordingly. Stay up to date and feel free to contact us if you have any further questions on this topic.