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Home > Ask The Get Out of Debt Experts > I’m Living on SSD. Is It True Banks Can’t Touch That? – Vincent

I’m Living on SSD. Is It True Banks Can’t Touch That? – Vincent

many times people hear bits and pieces of things and think that they are perennial experts and repeat things that they are not knowledgable about – here is a question that I “heard” from someone and cannot for th elife of me find any information about and the reason why I am asking is that Liz Pulliam Weston on MSN briefly mentioned this, but did not elaborate. Is is true – and please correct me if I’m wrong- that with the new banking laws enacted in 2009 that if a person gets a judgement against him for unsecured debt from a creditor, creditor law firm or collecitons agency AND THAT PERSON’S ONLY SOURCE OF INCOME IS DISABILITY, OR UNEMPLOYMENT INSURANCE and for the 60 days prior to the judgement date if that person’s bank account reflects deposits ONLY FROM DISABILITY OR UNEMPLOYMENT INSURANCE that the bank/credit union has th elegal responsiblity to prevent a garnishment or freeze on that said account? any and all input on this would be gre atly appreciated

sincerely,

Vincent

I’m currently backed-up on answering questions so I’m posting some of the questions here for you to help answer.

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Im Living on SSD. Is It True Banks Cant Touch That?   Vincent
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Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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