Debt Collection, Garnishment, Repossession

questions & answers

Question: My wife and I were sued for unsecured debt. We have two minor children that both have a bank account with my wife on each. The creditor seized thier accounts. My daughter has a babysitting job she does, and my son's account was set up to recieve his student financial aid. Luckily, he had already purchased books and payed for his summer classes. I have heard that Federal student aid was exempt from this. What can we do to stop this and can we get our sons school money back?

Answer: Please keep in mind that this is general information and you may want to seek legal advice pertaining to your specific circumstances. The Federal Trade Commission has an article regarding garnishing federal benefits. The article includes a list of federal benefits that are ordinarily exempt, including financial assistance. 

QUESTIONS

  • My wife and I were sued for unsecured debt. We have two minor children that both have a bank account with my wife on each. The creditor seized thier accounts. My daughter has a babysitting job she does, and my son's account was set up to recieve his student financial aid. Luckily, he had already purchased books and payed for his summer classes. I have heard that Federal student aid was exempt from this. What can we do to stop this and can we get our sons school money back?

STORIES

  • He told me that I could actually get all the money I needed by using my home as collateral. . .
  • I just helped my mother, age 89, deal with her Medicare HMO. . .
  • He told me that I could actually get all the money I needed by using my home as collateral. . .

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