Legal Question in Bankruptcy in Ohio
i cosigned for our sons school loans. I am now retired and receiving social security and an annuity, if he would file brankruptcy. Can they take any or all of the money i'm receiving
Asked on 3/07/13, 11:06 am
1 Answer from Attorneys
David Michael Benson
Benson Law Firm
Social security benefits are generally protected from levy and, as long as they are not comingled with other funds, should be safe from garnishment. The annuity, on the other hand, may be a different matter depending on whether the payments can be classed as "retirement income" under federal exemption law. I would suggest contacting a competent local lawyer to determine whether the funds you receive would be exposed to collectors upon your son's bankruptcy filing.
- BensonBankruptcy.com
Answered on 3/12/13, 10:21 am
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