I have accumulated a credit card debt with my current bank (Chase) and am in the early process of working with a debt consolidation agency. The bank obviously has not gotten any payments but I still have an IRA I rolled from a previous employer with them. I am currently stopping my direct deposit with them due to my debts. What do I do with my IRA??? Can they keep my IRA?
bank debt and IRA
Hi uptomyneck,
I am currently stopping my direct deposit with them due to my debts
Can I know if you are stooping the payments towards IRA? And what is it do you want to do with your IRA?
Can they keep my IRA?
No creditor can touch your IRA. It is exempt from garnishment.
Thanks,
Aaron