Social Security and Bankruptcy

The vast majority of individuals who file for bankruptcy protection do so because they are so mired in debt that they feel that they have virtually no other way out and fear that their wages will simply be garnished by court order if they fail to pay their creditors anyway, and for the most part that would be the procedure they would face from the creditor.

There are some exemptions to this rule however. If you or someone in your immediate family is on Social Security benefits and are facing a massive debt load then they might be considering seeking bankruptcy protection. While this may not end up being a bad idea to try and get the bulk of the debts discharged, the fact remains that no matter which you decide your Social Security Benefits cannot be garnished by a creditor. This protection is guaranteed by the Federal Government and you do not need to file for bankruptcy protection to be afforded it. The decision to file for bankruptcy protection may well end up being the right one in the long run anyway, but do not do it for fear of a garnishment if on Social Security.

Contact a qualified Dallas bankruptcy attorney to discuss this or any other issue you may have with regards to bankruptcy and your rights as an individual. You may be surprised by what you end up learning.