What would you like to do?
Yes, that is true but the bank can go to court and get a judgment against you then call the county sheriff to go to your house and seize your personal assets from your house t…o satisfy the debt! No. Not directly but according to Carol: http://www.creditmagic.org/garnishment/card-debt.html Social security benefits can only be garnished for recovery of Federal Taxes and alimony and child support obligations but, it cannot be garnished for recovery of credit card or any other types of debt. However the creditor can bring judgment against you to garnish your bank account. If the creditor garnishes your bank account then your account may be debited in full whenever any money gets credited in the account.
Yeah by the Feds, IRS for back taxes (student loans) Dept of Education
It depends upon the laws of the state where the debtor resides and the type of retirement benefits. All SS benefits are exempt from creditor garnishment as are all pub…lic assistance benefits. The exceptions are, tax arrearages and child support obligations.
If it's federal they can get your social security without even taking you to court. They would have to take you to court for a retirement account. If it's private they… would have to get a judgment.
Answer . Monthly child support payments can be garnished from retirement.
Can my military retirement be garnished by a non-government agency? Can my military retirement be garnished? military retirement pay can be garnished through the governmen…t. It can be garnished like everyone else's pay, through the courts at any level.
Divorce can do it.
Social Security income has some protections. (But as soon as it is deposited it becomes like any other asset).. Qualified Retirement SAVINGS may have some protections (like y…our IRA account). (But as soon as you withdraw it, it becomes like any other asset).. Retirement income, (which sounds like any income that someone who doesn't work wants to call it), wouldn't be anything special.
The state of Massachusetts protects public employee pensions from being garnished, however, you can still find yourself unprotected. The state doesn't protect the disburse…ments from retirement accounts such as 401k(s) and IRAs.
I doubt that all pensions originating from federal programs are immune to garnishment. Certain types of pensions (eg. Social Security benefits) are regulated differently regar…ding legal actions, but not by the fact you were a participant in a federal operation. Regulatory categorization of pension type (or in some cases -- a particular pension fund resulting from past political / legal history -- like railroad employees retirement) may include prohibition of certain collection action. Federal retirement may be garnished under certain circumstances including child support and alimony arrearages.
Can a credit card company garnish retirement wages specially government retirement and VA disability?
No, under Federal law most Federal benefit payments like Social Security benefits, Supplemental Security Income benefits, Veteran's benefits, and Railroad Retirement benefits …are not subject to garnishment. They are exempted funds when deposited in your bank account and only lose that status if moved into any type of investment product, even a bank certificate of deposit (CD).
This depends on the State law.
Can a Social Security disability or a retirement pension check be garnished in MI for credit card debt?
No, all SS benefits are exempted by federal law from creditor garnishment.
A garnishee can be placed on any income Except That the garnishee can not lower the persons income below a certain point. The myth of you can't garnishee pensions comes… from the fact that many retirees are below that level already. Head of Household wages, Pension, Life Insurance, Annuity (some) IRA, Disability are protected from most attachments... Except from things like taxes & child support. The original question is too vague to know why the posted asked about garnishment. See section 222.11 of the Florida statutes.
In most states, state paid disability and private disability insurance payments are exempt from garnishment. It is best to consult an attorney or debt collections specialist f…or more information.