Consumer Protection Law
Consumer Protection Law Questions? Ask a Lawyer Now.
Hi, Marjorie, My name is Andrea, and I will be glad to assist you today and provide you with Excellent Service,
What you have read is correct. Creditors, even judgment creditors (those who have sued you on the debt and obtained a judgment) cannot garnish or attach any funds which are pension, IRA's, or any type of retirement funds, including Social Securty benefits and any type of disability payments. The only issue you have to be concerned about is that the creditor not be permitted to garnish any funds in your checking account because their source was either from retirement benefits, or disability benefits. Therefore, you should inform the bank where you maintain your checking account that your funds have their source from retirement and disability benefits and they are not permitted to honor any garnishment with which they might be served,
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