Creditors sometimes go to court and get a judgment against the debtor. If this happens to you, your creditor can then take the judgment order to the bank, garnish your account and take your money. According to federal law under 42 U.S.C. section 407 (a), your Social Security income is exempt from garnishment. This protection is not automatic and there are steps you need to take to be sure that you do not lose your money to the creditor. If you do one of the following, you should be able to save three months of your Social Security income from garnishment. Filing an affidavit with the court If you receive a notice of a hearing requested by your creditor, attend the hearing and provide the court and your creditor with information verifying that your income is exempt from garnishment. If you did not attend the hearing, you can still take…
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In light of Father’s Day approaching, I decided to write this article about fathers. Fathers play a huge role in their children’s lives. My father taught me that a true gentleman always holds the door open for a lady and that if a lady is cold, a guy should give her his jacket. He taught me that a baseball game is not about who wins or loses – it’s about enjoying the weather, the company, and the atmosphere. My dad taught me that night crawlers are the best bait for reeling in the big catch. He also taught me to give and give freely without expecting anything in return. The lesson he taught me that sticks out to me the most as I write this article is: No matter how broke something is, daddy can always make it right… or at least break his back trying. In my line of…
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Today the Sader Law Firm addresses another common bankruptcy misconception: “I want to file a Chapter 7, but I don’t want to lose my property!” I spoke to an individual recently who insisted that he wanted to file a bankruptcy case under Chapter 13 rather than Chapter 7 because he didn’t want to give up his car. After talking with him for a few minutes, I told him that he didn’t have to give up his car or any of his other property for that matter. While Chapter 7 is sometimes called a “straight bankruptcy” or “liquidation,” the fact is that the overwhelming majority of my clients do not have to give up any of their property in Chapter 7. How can that be? The Bankruptcy Code allows debtors to keep a certain amount of property through state law exemptions and typically, the value of the debtor’s property does not…
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