Can a signature loan company garnish social security payments for non payment of the personal loan

Asked over 1 year ago - Lebanon, MO

personal loans

Attorney answers (3)

  1. John R. Cantrell Jr.

    Contributor Level 8

    3

    Lawyers agree

    Answered . No, they can't. It is best if the account where the SS funds are being deposited contains only deposits from SS, and not other income. This makes it easier to prevent the SS funds from being improperly garnished.

  2. Gary D. Bollinger

    Pro

    Contributor Level 19

    1

    Lawyer agrees

    Answered . Missouri has some procedures for designating a bank account as "social security funded" only.
    Ask your bank.

  3. Matthew Scott Berkus

    Contributor Level 20

    2

    Lawyers agree

    Answered . They cannot garnish the Social Security administration.

    However, as has been pointed out, you will want to put the funds in a specially designated account and that account must only contain SSI funds. Ultimately, the burden is the debtor (you) to raise the exemption.

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