B
bones
Guest
This question involves the law of Virginia.
I have reviewed several sites regarding exemptions from garnishment and see that only a certain amount of earnings can be garnished and that there are limitations on garnishing retirement benefits. What about people who do not fall squarely within an exception?
The facts: the individual who's income is to be garnished is in his seventies with several medical problems and no ability to work. He receives income from two sources. The first is social security benefits which seem to be exempt. The other income is derived from payments made to him on a contract whereby another individual is buying real property from the first individual. These two sources of income give the individual about $1,450.00 a month in income.
The money received from the purchase contract is, in effect, the individual's retirement plan but does not appear exempted since it is not in a government recognized plan. That money also does not appear to be wages since it is not paid for personal services performed by the individual. If the second source of income were wages, the rules seem to state that only three hundred and some dollars of the money would be garnishable. Is there any way to protect at least some of the money received from the purchase payments? Can the garnished amount be limited to the amount that would be garnishable if the funds were wages?
I have reviewed several sites regarding exemptions from garnishment and see that only a certain amount of earnings can be garnished and that there are limitations on garnishing retirement benefits. What about people who do not fall squarely within an exception?
The facts: the individual who's income is to be garnished is in his seventies with several medical problems and no ability to work. He receives income from two sources. The first is social security benefits which seem to be exempt. The other income is derived from payments made to him on a contract whereby another individual is buying real property from the first individual. These two sources of income give the individual about $1,450.00 a month in income.
The money received from the purchase contract is, in effect, the individual's retirement plan but does not appear exempted since it is not in a government recognized plan. That money also does not appear to be wages since it is not paid for personal services performed by the individual. If the second source of income were wages, the rules seem to state that only three hundred and some dollars of the money would be garnishable. Is there any way to protect at least some of the money received from the purchase payments? Can the garnished amount be limited to the amount that would be garnishable if the funds were wages?