THE EVOLUTION OF GARNISHMENT AND WAGE ASSIGNMENT LAW IN ILLINOIS
<p>Recent research shows that, despite high interest rates, wage earners in the early twentieth century frequently obtained credit from retail shops, from loan sharks, and from the emerging formal consumer credit market. When wage earners defaulted, the options for collection available to thei...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Economic & Business History Society
2014-06-01
|
| Series: | Essays in Economic and Business History |
| Online Access: | http://ebhsoc.org/journal/index.php/ebhs/article/view/241 |
| _version_ | 1818359012267130880 |
|---|---|
| author | Bradley Hansen Mary Hansen |
| author_facet | Bradley Hansen Mary Hansen |
| author_sort | Bradley Hansen |
| collection | DOAJ |
| description | <p>Recent research shows that, despite high interest rates, wage earners in the early twentieth century frequently obtained credit from retail shops, from loan sharks, and from the emerging formal consumer credit market. When wage earners defaulted, the options for collection available to their creditors were governed by state laws on garnishment and wage assignment. These important laws varied widely from state to state, and little is known about their origins or evolution. In Illinois, the law put significant restrictions on creditors in the late nineteenth century, but the restrictions were removed in the first quarter of the twentieth century. This article shows how this dramatic shift resulted from the interaction of legislative and judicial activity and was driven by both interest group politics and judicial action.</p> |
| first_indexed | 2024-12-13T20:38:07Z |
| format | Article |
| id | doaj.art-677d9889e92242f59bf35aca33fdfe77 |
| institution | Directory Open Access Journal |
| issn | 0896-226X |
| language | English |
| last_indexed | 2024-12-13T20:38:07Z |
| publishDate | 2014-06-01 |
| publisher | Economic & Business History Society |
| record_format | Article |
| series | Essays in Economic and Business History |
| spelling | doaj.art-677d9889e92242f59bf35aca33fdfe772022-12-21T23:32:13ZengEconomic & Business History SocietyEssays in Economic and Business History0896-226X2014-06-01321THE EVOLUTION OF GARNISHMENT AND WAGE ASSIGNMENT LAW IN ILLINOISBradley HansenMary Hansen<p>Recent research shows that, despite high interest rates, wage earners in the early twentieth century frequently obtained credit from retail shops, from loan sharks, and from the emerging formal consumer credit market. When wage earners defaulted, the options for collection available to their creditors were governed by state laws on garnishment and wage assignment. These important laws varied widely from state to state, and little is known about their origins or evolution. In Illinois, the law put significant restrictions on creditors in the late nineteenth century, but the restrictions were removed in the first quarter of the twentieth century. This article shows how this dramatic shift resulted from the interaction of legislative and judicial activity and was driven by both interest group politics and judicial action.</p>http://ebhsoc.org/journal/index.php/ebhs/article/view/241 |
| spellingShingle | Bradley Hansen Mary Hansen THE EVOLUTION OF GARNISHMENT AND WAGE ASSIGNMENT LAW IN ILLINOIS Essays in Economic and Business History |
| title | THE EVOLUTION OF GARNISHMENT AND WAGE ASSIGNMENT LAW IN ILLINOIS |
| title_full | THE EVOLUTION OF GARNISHMENT AND WAGE ASSIGNMENT LAW IN ILLINOIS |
| title_fullStr | THE EVOLUTION OF GARNISHMENT AND WAGE ASSIGNMENT LAW IN ILLINOIS |
| title_full_unstemmed | THE EVOLUTION OF GARNISHMENT AND WAGE ASSIGNMENT LAW IN ILLINOIS |
| title_short | THE EVOLUTION OF GARNISHMENT AND WAGE ASSIGNMENT LAW IN ILLINOIS |
| title_sort | evolution of garnishment and wage assignment law in illinois |
| url | http://ebhsoc.org/journal/index.php/ebhs/article/view/241 |
| work_keys_str_mv | AT bradleyhansen theevolutionofgarnishmentandwageassignmentlawinillinois AT maryhansen theevolutionofgarnishmentandwageassignmentlawinillinois AT bradleyhansen evolutionofgarnishmentandwageassignmentlawinillinois AT maryhansen evolutionofgarnishmentandwageassignmentlawinillinois |