Changewater, NJ Bankruptcy Law Firms & Lawyers

An error is not a new contract. You agreed to pay back the money you borrowed. If you actually paid in full, then you are done. If they applied a payment to your account that was not your payment, then you still owe the money. A mistake on their part is not the same as a payment. You owe the money until you pay the money.

To answer what assets you are able to keep in chapter 13 bankruptcy, you must consider the following factors: 1) the equity value in your assets; 2) whether the exemption statutes will fully exempt your equity in the asset; 3) which set of exemptions provide the most protection for your total assets, and finally 4) how much your chapter 13 plan will pay to unsecured creditors. It is good to see a bankruptcy attorney early in order to plan your bankruptcy to get the most benefit.

The general rule is that social security benefits cannot be garnished directly out of the check or once deposited into a bank account. Qualified pensions cannot be garnished either. However, once a pension is deposited into a bank account it can be garnished. The exception to the general rule is that your Social Security or pension can be garnished if you owe back child support, or money to the state, local or federal governments.