Can a judgement creditor take my Social Security Disability and small retirement?
I just got a judgement against me for a credit card debt.If I had the money to pay, I would have paid the credit card. My only income is SSD and a small retirement. Can they take that? Also, can they take my income, bank accounts, home, car, etc.? Is it to late to apply for bankruptcy?
A judgment creditor can seize certain non-exempt assets of a debtor. Bank account/wages can be garnished and a residence can be lien ed (however the lien will be paid off wherever the house is sold).
As to SSD and retirements funds, SSD is exempt from creditors claims as are most retirement funds. However, there is not much that you can do in advance of a levy (garnishment) other than deposit the funds into an account not in your name or go to a check cashing establishment and have your checks cashed without putting the funds into your bank account (you would need you to contact the Social Security Administration to have your check mailed directly to you as opposed to automatically depositing into your bank account if they now do so).
If your bank account is frozen and the money in it is seized, you can notify the court and sheriff that the levied funds in your checking account are Social Security funds and thus exempt. If such notification is timely made, the funds in your account will be released.
Note: As to any non-exempt funds in the account, they can be garnished.