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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17210
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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I am disabled and 62 years of age. I currently have 4 accounts

Resolved Question:

I am disabled and 62 years of age. I currently have 4 accounts that I owe money
on. 3 of which are current as I am only able to make minimum payments on these.
On 1 account I am 4 months delinquent. The sum of all 4 accounts is $20,000.
I also owe a friend $16,000 which is also credit card debt. (But not my credit cards)
I live inCalifornia. My total monthly income is around $2600. After expenses I have
very little left over.

1- Not having filed Bankruptcy yet, can that one account that I am delinquent on
attach my Pension and Workmans Comp checks? Thats all I have left.

2- Do they have to notify me in writing first?

3- How much time do I have before I lose everything?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 5 years ago.

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on

WALLSTREETESQ :

First from the facts you have provided, you do qualify for a chapter 7

WALLSTREETESQ :

In terms, of garnishment of your accounts, pensions are protected as well as social security,

WALLSTREETESQ :

Federal law prohibits a creditor from garnishing your workers' compensation benefits


WALLSTREETESQ :

Before any of the credit cards can start trying to collect from you,

WALLSTREETESQ :

they have to sue you and obtain a judgment, this would take a few months if not atleast a year,

WALLSTREETESQ :

Once you file a bankruptcy all your credit card debts would be discharged, and your pension and workers compensation would be protected

WALLSTREETESQ :

If you have any further questions please do not hesitate to ask

WALLSTREETESQ :

If satisfied please press the accept button so we can receive credit

Customer:

Even before I file for Bankruptcy my Pension and Workmans comp

Customer:

will be safe from creditors? Is that correct?

WALLSTREETESQ :

Yes,

WALLSTREETESQ :

both are protected under State law.

Customer:

Thank you

WALLSTREETESQ :

Good luck, and if you have any further questions please do not hesitate to ask

WALLSTREETESQ and 2 other Bankruptcy Law Specialists are ready to help you