Can My Creditors Garnish My Assets in Texas? – Mary

“Dear Steve,

I have not paid my credit card payments for over 5 months due to the recession. I cannot afford to restructure them at this time because I am under employed and expect to be so forever due to my age. I live in Texas.

Can one or all of the credit card companies garnish all or any part of my checking, savings, IRA or 401K accounts? Each account is held at a separate financial institution. I live in Texas


closeup of a gavel on cash, from above

Dear Mary,

You might find more solace by putting your wounded debt out of its misery. It’s the humane thing to do.

You can click here to find a local bankruptcy attorney and talk to them for free about your specific situation. Get the facts and then you can make an informed and educated decision if bankruptcy is right for you.

At least this will close the door on the old debt, protect your assets, and stop future collection attempts or suits against you for the debt.

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Damon Day - Pro Debt Coach

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