Garnish IRA, Unemployment

[SkyMaster]

What is the name of your state (only U.S. law)? Colorado


If I loose a civil, debt collection case, can they garnish my IRA?
Can they garnish my unemployment checks?

 

[Rexlan]

What is the name of your state (only U.S. law)? Colorado


If I loose a civil, debt collection case, can they garnish my IRA?
Can they garnish my unemployment checks?

Why don't you borrow from your IRA and pay YOUR debt if it is legitimate ... then no issues? A good plan, yes?

 

[Antigone*]

Why don't you borrow from your IRA and pay YOUR debt if it is legitimate ... then no issues? A good plan, yes?

No, not a good plan

OP, your IRA cannot be garnished. Your unemployment check will not be garnished either. However, the money in your bank account can be levied.

What kind of debt are you talking about, and how much?

 

[SkyMaster]

I didn't think tapping my retirement account was a good idea.
I'm broke now; if I tap my retirement account I would be broke later as well.

A credit card is suing me, in county court, for 4 year old debt. They want like $2,300.

 

[Antigone*]

I didn't think tapping my retirement account was a good idea.
I'm broke now; if I tap my retirement account I would be broke later as well.

A credit card is suing me, in county court, for 4 year old debt. They want like $2,300.

Okay, so you'll have a judgement, then you contact the judgment creditor to make a payment plan.

 

[Rexlan]

Okay, so you'll have a judgement, then you contact the judgment creditor to make a payment plan.

Bad plan ... we always need to pay our legitimate debts. OP is already a bad risk, being broke is self inflicted, and now we want to pile a judgment on top of that ... stupid I think, but what the heck.

I think OP's payment plan is to continue to ignore the debt ...