my bank account was levied by a debt collector. The funds in my are from my retirement pension and 401k. Are these funds exempt from such levies? Only money from these two sources were in the account.
|
Read More Answered By: David Gibbs |
The funds were exempt while held in the Pension and 401K. After they were distributed, they take on a new characteristic - cash. As such, they are available to your creditors for attachment. You should file a claim of exemption based on them being pension funds, but you will likely lose. Good luck.
*Due to the limitations of the LawGuru Forums, The Gibbs Law Firm, APC's (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. The information provided is general and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence. As required by 11 U.S.C. §528, we must now disclose that, "We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Assistance we provide with respect to Debt Relief may involve bankruptcy relief under the Bankruptcy Code." |
San Francisco, CA
Questions Answered: 6347
Last Question Aswered on: 2012-05-18
San Clemente, CA
Questions Answered: 2089
Last Question Aswered on: 2012-05-07
El Cajon, CA
Questions Answered: 1888
Last Question Aswered on: 2012-05-09
Ontario, CA
Questions Answered: 1584
Last Question Aswered on: 2010-12-04
Las Vegas, NV
Questions Answered: 1454
Last Question Aswered on: 2012-04-23
San Diego, CA
Questions Answered: 1027
Last Question Aswered on: 2012-05-23
Los Angeles, CA
Questions Answered: 899
Last Question Aswered on: 2010-09-30
Moreno Valley, CA
Questions Answered: 823
Last Question Aswered on: 2012-04-12
Studio City, CA
Questions Answered: 804
Last Question Aswered on: 2012-01-17
San Diego And Los Angeles, CA
Questions Answered: 592
Last Question Aswered on: 2012-03-21
► The immense amount of debt my wife and I accrued due to short-sale of our house...
► A mortgage loan company I have invested in has filed for Chapter 11. I hold...
► My mom has rented a house in compton,ca for about 11 years now. The owner charges...
► I filed chapter 7 and the levying office is holding 213 from my garnishment, what do...
► My bankruptcy was discharged about a year ago and one of my creditors is a credit...
► Back in 1983 my parents took out a loan from a company, and secured it with deed of...
► We live in a home that is in my sisters name, she is filing BK CH7. We have been...
More Bankruptcy Law questions and answers in California| Bill of Sale | Living Will |
| Contracts | Notices |
| Divorce | Power of Attorney |
| Employment | Quitclaim Deeds |
| Landlord & Tenant | Real Estate |
| Leases & Rentals | Sales and Purchases |
| Letters | Wills |
| Living Trusts | More... |
© WebsiteBroker, Inc.
LawGuru.com | Advertise on LawGuru | Affiliate Program | Privacy | About Us | Press
