If there is the threat that your home could go into foreclosure, you'll likely be filled with emotions. You could be frustrated, angry or fearful of what the future has to hold.
If you have not paid back taxes that you owe or have failed to satisfy a federal debt, the Internal Revenue Service has the ability to garnish your wages. IRS wage garnishment is binding, and your employer must comply.
If you are deep in debt, you may think that your only option is to enter into bankruptcy. While this is certainly a possible solution to your debt, it's important to know how it could affect you and how it will change your future.