If you do not owe the creditor, then you should make sure they understand that the account is not yours. If the number they are using is wrong but the account belongs to you, the debt is still yours to pay. Unfortunately you need to work it out with everyone so that your credit reporting information is correct.
Is my retirement safe?. Most wages that are considered retirement income are safe from creditors garnishment policies. Creditors can not garnish against any type of Social Security Income.
This includes retirement benefits, disability benefits and survivor benefits. Private pensions, government pensions, veteranĂ¢? S retirement benefits and most 401k benefits are exempt from any garnishment.
Can a creditor garnish Social Security payments? A creditor can not garnish retirement wages. If you receive social security payments of any time your money from that payment is exempt from garnishment.
It is very important that you notify any creditor that is threatening to garnish retirement wages that your income is a protected income. Make sure you always have this proof available if necessary. Can a creditor garnish my 401k?
401K plans are protected under the retirement funds protection laws. The only way that a creditor could ever garnish retirement wages from a 401k plan is if they could prove that you purposefully invested money into your 401k to avoid paying them off. Since this is near impossible to prove, your 401k money is protected from creditor garnishment under the retirement wage laws.
Is my retirement safe? You need to make your own retirement safe.
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