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My question is: in the previously asked question, I did not tell that I was contributing 10%. Also in the previously asked question I did not ask what if I increase my 403(b) contribution to the previous level (10%) therefore one can easily misunderstood that currently I am planning to increase...
Thank you for the valuable information. I have a subsequent question: I was contributing around 10% into my 403(b) two years prior to that lawsuit was filed all the way several months after the judgment was announced in that lawsuit (which made me judgment debtor). After that, I reduced my...
"Why can't you spend it all? " the issue is not on this matter. There is no rule or proof that states that I must or I will spend it!!
"The money will not be in your bank account because you used it to make a contribution to your 403(b). That is no different than spending the money in your...
I cannot spend all my salary if it is in my bank account. Therefore the creditor can take it after 6 months. But if it is in 403(b), the creditor can never take it.
Currently, my salary is deposited into my account (single account). Based on your argument, can I deposit the salary in a joint...
If the salary is deposited into my bank account then, after 6 months, the creditor can take it even though I am head of household. However, if the same salary or part of it (which is supposed to come to my bank account) is transferred to 403(b) then the creditor cannot take it. Whether that...
Thank you. However, I am already head of household therefore I am not worried about wage garnishment as I can prove this if my wage is garnished. I wish to increase my contribution in my 403(b) which would be the only source of my income after I retire. I am concerned if this increase will be...
What is the name of your state? Florida
I live in Florida and work for the state. I have been contributing to my 403(b) plan offered by my employer since I joined the job several years ago. I became a judgment debtor one year back. The judgment creditor is my former friend. Now, I want to...
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