If you are receiving social security income, and if you need to file for bankruptcy, then contact the New Jersey Bankruptcy Center. We can answer all of your questions about bankruptcy and social security income at a free bankruptcy consultation. Moreover, many New Jersey-ites who receive social security income, and who need to file for bankruptcy are often scared that their creditors may be able to garnish their income.

Social security income is considered exempt in bankruptcy. In simpler terms, your creditors cannot take your social security income benefits in a bankruptcy. Since social security benefits are exempt under 11 U.S.C. 522 (d)(10)(a) no creditor and even the bankruptcy trustee can take your benefits. Federal law provides that social security benefits are exempt from garnishment, levies, or assignments by most creditors, and it is likewise exempt from the trustee in a bankruptcy case .
Now even though Federal Law and New Jersey law allows an exemption of social security income in bankruptcy ..........

Read More »