If a judgement is issued against you, canyour creditortake a tax refund or an inheritance?

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If a judgement is issued against you, canyour creditortake a tax refund or an inheritance?

Highly in debt. Will have judgements against me. Can the courts take tax refund or if Ireceive and inheritance and pay it all to the collection agency or credit card company? Bankruptcy is best to but husband against it. When they say that a lein will be issued and garnishment of wages, is there a timeframe where it will be dismissed? If there are multiple liens how does that work?

Asked on September 13, 2010 under Bankruptcy Law, Ohio

Answers:

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

Answered 10 years ago | Contributor

Ok, maybe you should start by going to see a debt consolidation specialist to help you consolidate all your debt in to one place and pa it off in monthly installments that are easy for you to manage.  Make sure that there is a set amount that is negotiated for the loan and that there is no pre-payment penalty with the consolidation company should you come in to an inheritance. If your husband is against the bankruptcy this is a better option.

Now, judgments are collected in a few different ways:  lien on personal property (where the judgement is recorded in a county clerk's office), levy on a bank account where the amounts is taken out generally in whole, and wage garnishments which are limited by percentages permitted by state law.  The only way that your tax return can be taken before it gets to you is for a Federal Student Loan or IRS debt.  After it gets to you it can be taken hen it is deposited (see levy against accounts above).  Get some help her and start sleeping better.  Good luck.

 


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