QUESTION
How do I protect direct deposit of exempt income from creditors?
Asked on Sep 21st, 2013 on Bankruptcy - Florida
More details to this question:
Health care bills have overwhelmed me, but I believe I am judgement proof. My only income is SSI and pension. Both are directly deposited and not co-mingled with other funds. Can I do anything before or during a judgement hearing to protect this bank account from garnishment?
3 ANSWERS
Car Accidents Attorney serving Mandeville, LA
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Olivier Law Firm, LLC
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For one, you could deposit it in a separate account from which you only draw that money as needed. No other deposits should be made to it.
Answered on Sep 25th, 2013 at 1:40 AM
Debt Collection Attorney serving Chicago, IL
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Edelman, Combs, Latturner & Goodwin, LLC
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Make sure the source of the funds is shown on monthly statements. Banks are now required to refrain from withholding exempt funds under such circumstances. .
Answered on Sep 24th, 2013 at 12:01 PM
Commercial Collections Attorney serving West Palm Beach, FL
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Dion & Forsyth, P.A.
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You are doing it correctly. Nothing you can really do about the hearing but the SSI and pension income is expect from garnishment and you are properly keeping it separate from any other income by not commingling.
Answered on Sep 24th, 2013 at 12:01 PM