No..IRA or just about any qualified retirement account are free from judgments.
Credit card companies could not garnish a retirement account at one time in Florida.
Yes, that is the way a garnishment works. When the credit card company sues you for non-payment of debt, they win a judgment. The judgment can be a garnish on your paycheck or your bank account. It makes no difference who you have a bank account with if they were awarded the garnishment by court.
I am unable to pay my utilities and credit cards and was wondering when the creditors place a judgement on me if my retirement money can be taken, it would mean then not being able to pay mortgage
A credit card company cannot freeze your bank account. However, it can sue you in court for any overdue balance. If the credit card company is successful, the court will issue a judgment lien that the creditor can use to freeze your bank account and seize any money you have on deposit. In fact, the judgment lien can be used to seize any assets you own to satisfy the lien.
Yes, if a creditor wins a lawsuit and is granted a judgment, said judgment can be enforced as a bank account garnishment. A joint account (even a marital one) is subject to attachment to the extent of the debtor's share.
Yes
It means that you have that on your credit report for 8 years and that they have the right to collect the judgment from you.
A credit card company can refuse your offer of settlement and proceed with legal action. They must win their court case and have a judgment declared against you before your wages or bank account can be garnished.
Omaha School Employees' Retirement Systems(OSERS) is the high interest retirement account in Omaha,NE, it gives a 2% credit by multiplying the years of retirement.
A credit card company may win a lawsuit against you to garnish your disability or retirement checks.
Yes, in Texas, an attorney can place a levy on a bank account as a means to enforce a default judgment on an unsecured credit account. This levy allows the attorney to collect the specified amount owed from the debtor's bank account to satisfy the judgment.
No, income tax refunds can not be held for credit card companies. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.