DEBT COLLECTORS AND WHAT THEY CAN SEIZE?

Can debt collectors seize debtors’ early retirement supports (e.g. stocks, bonds, CDs, IRAs, distinction sharing, investments, etc.)?
So does it rely upon your state laws? Is there the website which explains this?

{ 6 comments… read them below or add one }

Judy October 8, 2010 at 1:53 pm

I looked it up for my state only.
Creditors can not come after your retirement funds. 401K’s, and tax-deductible IRA’s.
They can come after roth accounts – for some reason these are considered cash.
They will most likely put a lien in your house also.
Ater they garnish your wages and wipe out your cash accounts.
/

Mad Men October 8, 2010 at 2:40 pm

No. They can only take property, checking accounts and wages.

Doctor Deth October 8, 2010 at 2:55 pm

they can’t get anything without going to court, winning and getting a judgment and/or garnishment against you

timothy p October 8, 2010 at 3:30 pm

Have they sued you and won a judgment? If not, they can’t seize anything.

If they have, your state laws will limit what they can take.

Andre J October 8, 2010 at 4:10 pm

As a former debt collector, the simple answer is no.

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