Legal Question in Credit and Debt Law in Nevada

Is student financial aid such as Pell grants and Stafford loans considered exempt property? I have a judgement against me from a credit card company and am worried they will be able to take my student aid proceeds. I am unemployed and my other property is exempt. I am returning to school to try to make something of myself and would like to know that my financial aid will be safe from the creditor. I live in Nevada and can find no mention of student financial aid being exempt in Nevada, though it appears from the FTC site that it is exempt on a federal level. Thank you.


Asked on 6/30/11, 1:20 pm

1 Answer from Attorneys
David Otto David Otto & Affiliates, PC

I'd call it exempt. Hard to say without more research, but it's not exactly your money. Don't let them take it out of your bank account. Move banks, or tell your bank that it's student aid money. It might be the best Idea to move it to a bank those blood sucking vampire collection agents don't know about.

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Answered on 6/30/11, 5:32 pm


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