Can a lien be placed on my retirement accounts if a creditor receives a judgement against me?

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Can a lien be placed on my retirement accounts if a creditor receives a judgement against me?

Asked on February 21, 2011 under Bankruptcy Law, New Jersey

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Generally speaking, most proceeds from retirement accounts and retirement accounts themselves (IRA's for example) are protected from a judgement creditor.  But, that does not mean that the judgement creditor will not try and place a levy on a bank account that say your Social Security check is deposited in to.   Laws surrounding judgements in most states allow a judgement debtor to file exemptions from garnishment on certian accounts.  Creditors, though, are also permitted sometimes to file objections to the debtors request for exemption.  It can be a messy merry go round.   I would seek some counseling in your area on the matter. Otherwise you could find yourself fighting more now than before the judgement.  Good luck.   


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