credit judgement

Submitted by bullwhip4490 on Mon, 04/05/2010 - 15:38

i olny got socail security and retirement penion going in my bank acount do they got let me kown if they garnish my bank acount and what i can do about it if they do

I know that disability is exempt from garnishment, the company may still try to freeze and take your savings out of the bank, but all you have to do is talk to the bank about your status and they will unblock the freeze and kick back denial letter to the company.

But it is a big headache waiting for funds to be un-freezed again, so so don't put all money in there that you need to pay bills. Might use money orders until you know they have tried and failed.

Mon, 04/05/2010 - 20:19 Permalink

Hi Bullwhip,

Generally speaking, both Social Security and retirement benefits cannot be garnished. However, this depends on state garnishment laws. Moreover, the Social Security and retirement benefits may also get garnished for child support and alimony purposes.

What you need to do is declare both to the bank and creditor or collection agency that, all your money comes from Social Security and retirement. However, its better to settle and pay off the debt.

Hope this helps.



Tue, 04/06/2010 - 04:48 Permalink

I would imagine that would depend on the amount of the debt. Social security does not pay enough to barely get by on. Of course a settled debt is always the best way to go, especially if not protected by your states statute of limitations. The could still sue even if they can not garnish and get a judgment. Those can hang over your head for many years.

Tue, 04/06/2010 - 13:36 Permalink

I think they depend on your getting annoyed and paying them off, I have someone calling me with a thick indian accent, in one message he said he was mike nelson from financial crime recovery, I do not owe any debt or anything that is past due so I am not real sure what they want.

The guy is really hard to understand and is contiuously calling, I plan on calling him back today to let him know that the pa attorney generals office will be in touch with him to represent me.

this guy is pathetic.

Tue, 04/06/2010 - 14:16 Permalink