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.
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.
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