Can a judgment creditor levy Military retirement

[Catdog2000]

What is the name of your state? South Carolina

I need to know if I get a judgment against me for unpaid credit card bills, can the creditor levy my bank account containing only my Military retirement pay?

 

[LdiJ]

What is the name of your state? South Carolina

I need to know if I get a judgment against me for unpaid credit card bills, can the creditor levy my bank account containing only my Military retirement pay?

Military retirement pay is protected from garnishment for commercial debts. Therefore it is protected from bank account levies, but you do have to jump through some hoops when/if your account is levied.

 

[FlyingRon]

I agree with Ldij, but you need to be very careful that there is not ANYthing comingled in that account and you take steps to make sure the bank knows that's protected money.

One pretty good way of handling this is to use an institution that knows military: either a military Federal Credit Union or someone like USAA's bank.

 

[LdiJ]

I agree with Ldij, but you need to be very careful that there is not ANYthing comingled in that account and you take steps to make sure the bank knows that's protected money.

One pretty good way of handling this is to use an institution that knows military: either a military Federal Credit Union or someone like USAA's bank.

I do not necessarily disagree, but Social Security benefits and VA benefits also are exempt from levies for commercial debts so banks are not unfamiliar with the situation.

 

[FlyingRon]

I've found your average local bank sometimes ISN'T familiar even with the SS payments, let alone things like pensions.

 

[Catdog2000]

I hate having to do this but my wife has cancer again and we are pretty financially strapped. I asked on avvo where lawyers answer for free and both lawyers said yes, my Military retirement could be levied after it was deposited into my bank account. It’s so confusing.

 

[LdiJ]

I hate having to do this but my wife has cancer again and we are pretty financially strapped. I asked on avvo where lawyers answer for free and both lawyers said yes, my Military retirement could be levied after it was deposited into my bank account. It’s so confusing.

Yes, the bank account can be levied but you can fight it when the money in the account comes from military retirement, social security benefits or VA benefits.

 

[Catdog2000]

Ok, thanks everyone. I appreciate it!