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TeachMeFinance.com - explain garnishment garnishment -- a notice to an employer or other asset holder requiring that monies, wages, or property due a debtor be withheld and given to a creditor to be applied to a specific debt in arrears. historic definition... Garnishment -- Attachment for debt of money or property while in the hands of a third party. In Massachusetts this proceeding is called trustee process. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.