Vernon Rockville, CT asked in Bankruptcy for Connecticut

Q: I am retired and have a timeshare loan that I can no longer afford. Thought about bankruptcy or just stop paying .

I read they can’t garnish SSI or military retired pay my only income.

Related Topics:
2 Lawyer Answers
W. J. Winterstein Jr.
W. J. Winterstein Jr.
PREMIUM
Answered
  • Bankruptcy Lawyer
  • Boyertown, PA

A: Each state has laws identifying property which is exempt from attachment/garnishment by judgment creditors, and those lists, found in each state's statutes, vary.

The IRS is not bound by those state laws, however.

You can google "Connecticut exempt property", and that should take you to the answers for your state.

Florida and Texas are renowned as "debtors' havens" because of their generous exempt property statutes.

Timothy Denison
Timothy Denison
Answered
  • Bankruptcy Lawyer
  • Louisville, KY

A: What is your question?

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.