Can a Teamster's Pension be taken away by the creditors in chapter 7?
Can it be attached or garnished if you just owe them money and they file suit?
Can it be attached or garnished if you just owe them money and they file suit?
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Originally posted by BOA
If you just owe who money?
Pensions are usually covered if they are YOUR pensions. But if you inherited them, like I did, then you could be in trouble.
The first place you need to look is at the list of exemptions for your state. There will be the different types of pensions that are covered. If your pension is not exempt, then it could possibly be garnished or attached if you file bankruptcy. That's what I am currently facing. -
Who do I owe?
All of my creditors are unsecured. The Teamster's pension is mine but way in the future assuming they are still around to pay it. I imagine its covered in my state's exemptions because its pro union. Where can find a list of state by state exemptions for all 50 states?Comment
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here is one link....I'm not endorsing these people in any way, I just did a search and this is one of the links that came up.Comment
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2 other sites are bankruptcyaction.com and bankruptcyinformation.com. I have noticed some slight differences in amounts. For example, some sites say GA personal property exemptions total $5k, no more than $200 per item while others say $3500, no more than $200 per item.
(Didn't hurt us but I don't know which is correct.)Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.Comment
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There's actually an "official" site that the courts use to list the exemptions. BOA, try the website for your local bankruptcy court. That may be the best place to start.Comment
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Most pensions have some level of exemption, but you need to check with you states exemptions.
I don't think they can go after it directly, but sometimes, when someone is already receiving payments from a pension, a creditor may try to garnish the payment because it is the debtor's responsibility to claim the exemption.Comment
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