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Garnishment of retirement funds

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Hali
Guest

Subject: Garnishment of retirement funds

Mon Feb 08, 2010 6:48 pm

I get SS and a State Retirement can they garnish these if I don't pay my credit cards?

Aaron

Joined: 08 Feb 2010
Aaron's page
Posts: 2675

48566 Magic Points

Subject: Garnishment of retirement funds

Tue Feb 09, 2010 4:38 am

Hi Hali,

Social security and state retirements cannot be garnished by anybody, under the federal law. Only the government has the right to garnish social security. Still it would be better for you to contact the bank where you have an account, where the social security and retirement money gets deposited. You need to let the bank know that the money that gets deposited into your account is a social security.

However I must add that your retirement benefits and social security can be garnished if you have an outstanding federal tax or alimony. But this can be done only after a judgment.

Did the creditor/collection agency contact you?
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Pat and Al Kunze
Guest

Subject: Co-signer Info

Wed Jun 30, 2010 7:18 pm

Is a SS reciepient liabel for payment on a co-signed student plus loan?

Aaron

Joined: 08 Feb 2010
Aaron's page
Posts: 2675

48566 Magic Points

Subject: co signer

Wed Jul 28, 2010 10:25 am

Hi Pat,

Yes, a Social Security recipient is liable for a co-signed student loan. However, his Social Security cannot be garnished.

Thanks,

Aaron
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eddie johnson
Guest

Subject: paying on a debt

Tue Sep 14, 2010 7:10 pm

If I pay on a debt at say $10.00 a month, could my retirement be garnished? I would be showing good faith to pay off teh debt, would this work to keep him off my back?

Aaron

Joined: 08 Feb 2010
Aaron's page
Posts: 2675

48566 Magic Points

Subject: paying on a debt

Thu Sep 16, 2010 10:28 am

Hi eddie,

If this $10.00 is less than the minimum payment as mentioned in your contract with the creditor, he can sue you. However, retirement benefits are non-garnishable under the Federal Law.

Quote:

I would be showing good faith to pay off teh debt, would this work to keep him off my back?

This will depend on how you are showing good faith. You need to provide documented proofs.

Thanks,

Aaron
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