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Question: “Can a monetary inheritance be garnished if I file for bankruptcy?”
Answer: I’m sorry to say that the answer is yes. When you file for bankruptcy, you are only granted a limited number of exemptions (exempt assets means they are protected). In the case of cash, you can only protect a small amount. Anything over the small amount can be used to repay creditors regardless of the source (with a couple of exceptions for things like Social Security). Inherited money is not given special protection. I wish I had better news.
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How do I stop the motion for a chapter 13 bankruptcy? We just filed for it today.
If the inheritance is garnished, can they only garnish what is owed to the creditors and the lawyer's fee or are they able to garnish more?
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