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Yes, an annuity can potentially be garnished for a personal loan, but it depends on state laws and the specific terms of the loan agreement. Creditors may be able to obtain a court order to garnish funds from an annuity if they successfully sue for non-payment. However, some types of annuities may offer certain protections against garnishment. It's advisable to consult a legal expert for personalized advice based on your situation.
What else can I help you with?
Can taxes be garnished for unpaid secure personal loan?
Generally not
Can US Civil Service Annuity-Pension be garnished?
no.
Can a military annuity be garnished to pay a credit card debt?
No. It is exempt from judgements.
Can wages be garnished for the balance of a loan in a voluntary repossession?
Yes, they can be garnished for this reason.
Can Federal tax return be garnished for student loan?
yes - it can be garnished for any federal obligations
Can taxes be garnished for unpaid secure personal loan?
Generally not
Can US Civil Service Annuity-Pension be garnished?
no.
Can a military annuity be garnished to pay a credit card debt?
No. It is exempt from judgements.
Can wages be garnished for the balance of a loan in a voluntary repossession?
Yes, they can be garnished for this reason.
Where can a deal on an annuity loan be sought?
There are many places that offer deals on annuities. Some places to get an annuity loan include Minnesota Life, Annuity Advantage, and Midland National.
Can you take a loan from an annuity?
Yes, but not directly. An annuity is a stream of payments paid to some entity for some limited period of time (there are lifetime annuities which are known as perpetuities). One has the following two options for unlocking the value of an annuity: * Sell the annuity - receive the present value of all future payments right now in a single lump-sum - you will NOT have to pay it back, however, you will not receive any more annuity payments * Get a loan - offer the payments as security on a personal loan - the bank will ask you to redirect the payments of the annuity to their bank and either (1) directly use future payments to pay the loan payments or (2) keep future payments accumulated in a trust to guarantee that the loan gets fully paid.
Can annuity payments be garnished?
Yes, annuity payments can be garnished under certain circumstances. If a creditor obtains a court judgment against the annuity holder, they may be able to garnish payments to satisfy the debt. However, the specifics can vary based on state laws and the type of annuity. It’s advisable for individuals to consult a legal professional to understand their rights and protections regarding garnishment.
What can and cannot be garnished from your retirement?
Monthly child support payments can be garnished from retirement.
Can Federal tax return be garnished for student loan?
yes - it can be garnished for any federal obligations
Can wages be garnished after a repossession to collect the balance?
Can wages be garnished for the balance of an auto loan in the state of Delaware
Annuity loans are what type of loan exactly?
Annuity loans are when an annuity holder borrows money against the value of an annuity contract. It allows one to access funds without having to cash out their annuity immediately.
What are the terms of borrowing against a fixed annuity?
You will need to ask your annuity provider what their terms are to get a loan against the annuity. There may also be some penalties.
