We have a wage garnishment against us. DH has just lost his job. What happens now. Do they garnish unemployment? We are either going to need to file Bankruptcy or tap into DH's 401k to pay everything we owe so we can get by. I'm at a loss. Our transmission in our van is going and I don't know if we should fix it or hold onto the money in case we need it. We only have one vehicle and it is 10 years old. HELP, someone tell me what we should be doing!
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They cannot get at your unemployment comp, insurance proceeds and don't you dare touch that 401K. They cannot levy it and there is great penalties to pull money out of it. Drive your van till it quits, If you can't afford to get it fixed sell it for the weight of iron and good cheap cars are on every corner with for sale signs. More will be available soon as well. Only my opinion. 'HubIf I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010. -
I completely agree with Hub. Our attorney told us not to touch the retirement account even though that was one of the first things we thought of when trying to dig our way out (Pre-BK). We actually let our newest car go back and kept our older paid-for car. We will drive it until we have to push it, saving the whole time for another cheap car. An option you might think about is if you still have decent credit, you might consider another car to reaffirm when you file. For us, our scores were terrible by the time we found this board. Even if they weren't, we most likely would have still chosen the avenue we did. A car payment is something we can and will be happy to live without going forward.Comment
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