Bank Account levy

If your only source of income is Social Security and Retirement pension can a credit card company levy your bank account for the amount owed.

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Jul 30, 2010
Can debt collector take my SS money and retirement income?
by: Mary

Thanks for submitting your debt collection question on our Q&A page.

Generally, if a debt collector sues you over a past due debt and wins a judgment against you, your bank cannot be ordered to take your Social Security payments or income you may receive from a pension or some other retirement fund to satisfy that judgment. However, federal benefits may be seized under certain circumstances -- to pay any delinquent taxes, student loans, spousal support or child support you may own, for example.

Thanks for your question. Please get in touch again if you need additional information.

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