I am a resident of the State of Ohio and am in debt to the Cleveland Cleveland for aproximately $8,500 for health costs (I had cancer). I'm also on Social Security (Disability) and, accordingly, its limited income. Too, I have little to no savings. But I do possess an IRA and 401K accounts with Fidelity investments. My question is this: Can a collection agency attempt to collection from my IRA or 401K? Additionally, my outstanding credit-card debt is approximtely $25,000. Can you please share your thoughts with me? Thank you!
Country relating to Question: United States
In the past, I successfully filed financial assistance documentation with the Cleveland Clinic and was awarded same (the Clinic requires this documentation every 90 days to be eligible)on numerous occasions. Unfortunately, the current $8,500 charge was sudden for a brain CAT scan) and, therefore, no financial assistance request submitted within the 90-day timeframe.
Hello and thank you for the question. I am sorry to read of this dilemma.
IRA and 401 are exempt
as is ss and Disability income
the creditor in this situation will often close the account
or end up with a judgment that cannot be enforced.
Let me know if you typed something
i do not see anything back yet
No, I hadn't typed anything yet. A little confused with this website.
take your time
I'm wondering whether or not the collection agency could "force" me to claim bankruptcy.
review my comments and let me know if you need clarification
They cannot force you to file bankruptcy
It makes little sense for them
as often will wipe out their claim
Your response is good news to me -- I've been sweating bullets over this and had no idea where to turn.
Happy to answer
Let me know when ready to rate me
Thank you! You are My Hero! And I'm ready to rate your service.
turned it on
kindly rate me 5 stars
Very welcome and enjoy the rest of your weekend
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