Are IRAs in Illinois Exempt From Creditors?
In a Chapter 7 bankruptcy case, a court-appointed trustee seizes your assets and sells them to pay your debts. Federal and state laws exempt some assets, making that property safe from creditors no matter how much you owe. In Illinois, as in other states, federal law applies to ...
Can a Hospital Garnish Your IRA?
Before a hospital could explore garnishment as an option to collect a debt you owe, the hospital would have to get a judgment in court. However, once it has a judgment, it generally can collect what ...Read More
Is Roth IRA Safe From Collectors?
Your Roth IRA is not necessarily safe from collectors, but it’ll take a lot of effort on the creditor’s part to get his hands on your funds. The federal and state governments understand that your ...Read More