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Can loan companies bring your impairment income?

Can loan companies bring your impairment income?

By Eric Olsen, Executive Director, HELPS Nonprofit Law Practice

It is a struggle that is constant stay afloat economically on impairment income. Numerous persons that are disabled personal credit card debt they cannot spend, frequently incurred before these were disabled. Exactly what can disabled persons do about phone calls and letters from enthusiasts? What goes on if you should be sued? A nationwide nonprofit law firm that protects seniors and disabled persons from unwanted collector contact, I’d like to answer some of the pressing financial questions we regularly hear from disabled persons as the Executive Director of HELPS.

1. How secure is disability income from enthusiasts?

Probably the most important things to understand is the fact that Social protection in every its types, including SSD, is protected by federal legislation from loan companies. Pretty much all continuing states have rules that protect private impairment too. Whether or not a creditor files a lawsuit and obtains a judgment, they cannot just take your disability earnings.

2. What about money in to your banking account?

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Federal banking regulations immediately protect 2 months’ worth of federal advantages electronically deposited into a bank account irrespective of the origin regarding the funds into the account during the time of garnishment. Continue reading Can loan companies bring your impairment income?