A trusteeship is one of the oldest institutions in money management; it allows you to pay your bills in an orderly and creditable manner in line with your income without the fear of garnishment of your personal earnings.

To enter a trusteeship with the Stow Municipal Court, you must first receive a "Fifteen Day Demand" notifying you of an attempt to initiate the garnishment of your wages.  You must bring this notice to the Clerk of Courts Office during the referenced fifteen day period. Additionally, you must provide a list of your creditors, the amount of money you owe each creditor and your most recent pay receipt. The court will notify each creditor of your intent to satisfy your debt through trusteeship. Your creditor will be requested to verify, in writing, the amount of your debt due them.

After discussing your income and living expenses data, the Court will outline trusteeship payment terms with you. Payments with your trusteeship number noted must be made every pay period in the amount specified by the Court. (Amounts are set at 25% of your earnings after taxes; wages less than minimum wage at forty hours per week are exempt.) The Court requires a $15.00 filing fee to enter trusteeship plus a $2.00 fee for each creditor after the tenth one listed. A 2% processing charge will be assessed against all payments that you make toward your trusteeship. For your convenience, payments can be mailed to the Trusteeship Division of the Clerk of Courts Office.

While you are in Trusteeship, you are not permitted to accumulate new debts, with the exception of necessary medical expenses.

Payments made by you directly to your creditor will not excuse you from making your regularly scheduled trusteeship payments. If you should satisfy a debt outside of trusteeship, the creditor must provide the Court with proof of payment in full.

NOTE: You must notify the Court of any changes in your employment or residence. Failure to comply with the terms of your trusteeship will result in dismissal from the trusteeship.