Legal Question in Credit and Debt Law in Florida

In August I was terminated from my 6 year position from work! My wages were being garnished do to a defaulted student loan, and as a result of my termination no money has been paid to the federal student loans since August. I am still currently unemployed. My former employer pays 100 percent into a pension plan to people who have been employed with their company 5, or more years! I have about $14,000 than I am contemplating cashing out to continue to live (as I am still unemployed). If I cash in my pension plan, can the federal student loans take the money or even a portion of it? Are they able to keep the money from me?


Asked on 11/26/09, 8:28 am

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

The pension plan is (usually) a seperate entity. If it has not been garnished or is not garnished when the monies are owed to you after the request, then you should get it. This is a complicated area, so specifically ask the pension plan and be sure to get their response in writing.

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Answered on 12/06/09, 11:15 am


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