If the money was put into a 401(k) or an IRA, no, they cannot. The advantage of filing bankruptcy would be that the creditors will stop harassing you with calls and letters..
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Your social security is safe from garnishment.
However, some private disability payments may be subject to garnishment.
Just to complicate things more, when and if you collect on retirement, some plans also may be subject to garnishment in Georgia (see http://www.erisaboard.com/attachment.php?s=cf9db7370e547001f55fab893cc2132b&attachmentid=2826&d=1338303179 for one complex court case dealing with this).
Note that if a creditor gets a judgment it might seize bank accounts and other assets. To do a garnishment, a creditor must first sue you and win judgement.
It would be wise to see a lawyer to examine your finances and determine if bankruptcy is an option (if you qualify, bankruptcy will wipe out many debts) or if you have reason to worry at all. Feel free to call me at 404-768-3509 for a consultation.
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