How to protect Workers Comp and Disability payments from bank garnishment by creditors? How do I set up bank account to protect?

Asked over 1 year ago - Miami, FL

I have not filed for bankruptcy and don't plan to anytime soon. Due to foreclosure, Bank and Homeowners Association have a judgment against me. I am unemployed with no current income but I expected to receive workers comp and disability payments in the coming months. I would like to know how to protect the bank account for these funds. I plan to open an account for these payments only, not to be commingled with any other funds. Thanks

Additional information

I live in Florida.

Attorney answers (3)

  1. Dennis Andrew Chen

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    Contributor Level 17

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    Answered . You do not need to place the funds in a specific type of bank account,. The proceeds are exempt from creditors claims but you may want to consult an attorney to help you plan for the long term protection of those funds. I have provided links to Fla. Stat. 222.18 and 440.22 for your review.

    I provide a free 15 minute telephone consult for security deposit claims and eviction defense. No attorney-client... more
  2. Rex Edward Russo

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    Contributor Level 13

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    Answered . I agree with the other attorneys. However, it sounds like bankruptcy should be part of your planning process. Perhaps not immediately, but certainly at some point while you are still in your down cycle.

    The law is complicated and although the facts expressed may seem to be all that is relevant, there may be many... more
  3. Charles Joseph Michael Candiano

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    Contributor Level 20

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    Answered . You are correct. If even one dollar enters that account from another source, the entire account balance can be attached. Alternatively, you can simply cash the checks. Hire a WC attorney to protect your interests.

    If this information has been helpful, please indicate by clicking the up icon. Legal Disclaimer: Mr.... more

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