Legal Question in Bankruptcy in Michigan
bankruptcy
my 75 year old mother who lives with us is thinking about going bankruptcy...can creditors garnish social security money or pension? and her name is on our house deed with us (mortgage is in our name) will that effect anything if she goes bankruptcy?
1 Answer from Attorneys
Re: bankruptcy
Social Security is typically exempt from garnishment, the funds of the pension would be exempt, however pension payments she receives as income may be subject to garnishment although I typically do not see garnishments on pensions. However, with her ownership interest on your house, there would be the possibility of creditors filing liens on your house. A bankruptcy would prevent that from happening. But before she goes and file bankruptcy she needs to make sure there is not too much equity in the house. I would be happy to speak with you about what the best thing to do in your mother's situation.
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