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Andrea, Esq.
Andrea, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 12554
Experience:  25 yrs. of experience in employment law, real estate and business law, family law, criminal defense and immigration.
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I am a NYS resident. My income consists of Soc.Security, NYS

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I am a NYS resident. My income consists of Soc.Security, NYS Retirement pension and VA Disabled Veteran pension. My total monthly income is $1900. In the early to mid 90's I ran up credit debt. Once I got behind in my payments I could not catch up. After frequent (very frequent) calls from one of the collection agencies I agreed to pay $25/month just to stop the phone calls. However, my August payment was returned as 'not deliverable) so I've not paid on that account since July. I can not afford to claim bankruptcy so I've just let the debts 'ride'. My concern is that at some time one of the collection agencies will be able to freeze my checking account. I've read (on line/various sites) that state and federal pensions cannot be touched by creditors, but I need to know for certain. Thank you.

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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