How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Maverick Your Own Question
Maverick, Attorney
Category: Legal
Satisfied Customers: 6390
Experience:  20 years experience as a civil trial and appellate lawyer
Type Your Legal Question Here...
Maverick is online now
A new question is answered every 9 seconds

Credit card and unsecured loans I have lost my job. What can

Customer Question

Credit card and unsecured loans I have lost my job. What can creditors do to my finances? Can they freeze my checking accounts? Can they intercept my tax refunds? I plan on becoming self employed can they get any of theach money I make from self employment
Submitted: 1 year ago.
Category: Legal
Expert:  Maverick replied 1 year ago.

Welcome to Just Answer (“JA”)! My name is Maverick.

Note: (1) If you want legal advice, consult with a local attorney before acting or deciding not to act; information given here is for educational purposes only; (2) Most questions are answered within the hour; however, if I am not signed on, please allow up to 24 hours; and (3) Please assign a feedback rating so JA will compensate me for the answer provided. By continuing, you confirm that you understand and agree to these terms and to JA’s other site disclaimers.

Answer: These creditors will need to sue you first and get a judgment. Once a judgment is had, it will go on your credit and stay there for 7 years. This may make it much harder for you to borrow money. Also, with the judgment, they can try to attach to your bank accounts, so yes those can be frozen. However, they cannot garnish the federal government/IRS for an income tax refund. If you deposit the money you make from self employment in a bank account, then they can attach that as well.

Customer: replied 1 year ago.
Could they do anything to my IRA
Expert:  Maverick replied 1 year ago.

What state are you located in?

Customer: replied 1 year ago.
Expert:  Maverick replied 1 year ago.

Under subsection (c) iii of this law it states that IRA's are exempt from execution.