Can the creditor garnish my retirement if I have sufficient fund, or retirement income can never be garnish (except Alimony, Tax & Child Support) regardless of status.
Garnishment of retirement income is only possible when the creditor gets a judgment against you. However, you must be careful not to mingle the retirement account with any other account. Even if you have done that earlier, consider separating it from all the other accounts. This way you will be able to save your retirement income. Garnishment of retirement income is not possible unless you use the funds to clear alimony, child support and federal taxes.
I know that Military Retirement (which is your Military pension) can't be garnished for any reason. Disability, I'm pretty sure, can't either (not sure about this one, however).
That depends on what state you are from, if you are from Pennsylvania, then it is only alimony, taxes and child support that they can take.
Hi fdlcsr,
Garnishment of retirement income is only possible when the creditor gets a judgment against you. However, you must be careful not to mingle the retirement account with any other account. Even if you have done that earlier, consider separating it from all the other accounts. This way you will be able to save your retirement income. Garnishment of retirement income is not possible unless you use the funds to clear alimony, child support and federal taxes.
Thats correct
It needs to decided by the judeg
They cannot just get in to your reitirment accoutn and take your money
exempt from garnishment
are military retirements, disability pensions, VA disability and disability from social security exempt from garnishment?
exempt from garnishment
are military retirements, disability pensions, VA disability and disability from social security exempt from garnishment?
credit
I know that Military Retirement (which is your Military pension) can't be garnished for any reason. Disability, I'm pretty sure, can't either (not sure about this one, however).
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zWH0Sc Thank you ever so for you blog. Will read on...