Thank you so much. Right now I'm too emotional to text coherently. Just know I was very close to being completely hopeless. I've lost too much, I live with nothing and I have managed to stay a float, but I'm tired now. This is information is exactly what I needed. Thank you again.
I'm 57 yrs old almost a senior . But recently I got behind on my loan payments and this month they took out 2 payments from my checking account that my ssi is deposited into every month. Now prior when I took out the loan and I did agree to it being taken out of my account each month but... one month my account was over drawn and the loan payment didn't come out that month , I was told by the bank that when your over drawn its kicks out the payment withdraw agreement and I would need to come back in to reset the withdraw agreement back up , I never have done that but then this month when my ssi check went into my account and the bank had taken 2 payments out of my account. And that's the only money that is deposited into that account
I will address this question first on TH-cam live with HELPS today, 12/1 10 am Pacific You can look at the video later it will be on our TH-cam channel
If you receive a letter from your Bank saying you owe x amounts of $$ then you have to make arrangements to pay it back, a little bit each week that pleases you & the bank 🙂
You said pensions were protected, and at the end you said the bank can take the money from the pension? I'm confused. Which is it. I am a client of Helps also, and I was told my pension is protected. Please explain
Twice the monthly amount of Federal benefits including SS deposited into a bank account is protected from garnishment regardless of the actual source of funds in the account at the time of garnisment. Here is a video from HELPS on this topic: th-cam.com/video/awL9JFT3gg8/w-d-xo.html You can call HELPS with questions 855 435 7787
So if you have both a checking and savings at a bank, only the funds in the account that your social security goes into is protected from garnishments?
protected automatically yes, however if the money in the other account can be traced to SS then a claim of exemption could be filed and the court should order that money released. Eric HELPS
You say banks can take money in a checking account owed to them from overdraft. But what if there are two direct deposits from SSA and one is not the account holder? What if the person who’s SSA direct deposit is taken, did not authorize it and their name isn’t even on the bank account?
They can take it out. The key is that the money is owed to the bank because of the overdraft, regardless of the source of funds in the account or where they came from. Eric HELPS
Absolutely not. When we talk about "most people," I am referring to seniors. The other videos on our channel explain why seniors income is protected and can't be garnished. Bankruptcy for the vast vast majority of seniors is totally unnecessary, let alone unafordable. Eric HELPS
The video explains that a bank can offset monies in your account for charges owed to the bank such as an nsf check. It also discusses offset for money owed to bank on a loan. Welfare money is not Social Security so in theory could be offset for a loan that is owed to the bank. Best to change to a different bank where you don't owe money. Eric HELPS
I am a client and you guy's are the best
It's so great to see you back here! Thank you for always keeping people updated with the right information!
Thank you so much. Right now I'm too emotional to text coherently. Just know I was very close to being completely hopeless. I've lost too much, I live with nothing and I have managed to stay a float, but I'm tired now. This is information is exactly what I needed. Thank you again.
What thing I have learned is that things have a way of working out. You can always call HELPS with questions. Eric 855 435 7787
Stay away from credit. You turn into a slave.
Great information! I actually needed to learn this about credit unions. Thank you!
thank you...shared with others too
Thanks dear so much
I'm 57 yrs old almost a senior . But recently I got behind on my loan payments and this month they took out 2 payments from my checking account that my ssi is deposited into every month. Now prior when I took out the loan and I did agree to it being taken out of my account each month but... one month my account was over drawn and the loan payment didn't come out that month , I was told by the bank that when your over drawn its kicks out the payment withdraw agreement and I would need to come back in to reset the withdraw agreement back up , I never have done that but then this month when my ssi check went into my account and the bank had taken 2 payments out of my account. And that's the only money that is deposited into that account
I will address this question first on TH-cam live with HELPS today, 12/1 10 am Pacific You can look at the video later it will be on our TH-cam channel
If you receive a letter from your Bank saying you owe x amounts of $$ then you have to make arrangements to pay it back, a little bit each week that pleases you & the bank 🙂
they say their going to take oiut of my account because their going to start charging me 3 dollars for my bank statemen
You said pensions were protected, and at the end you said the bank can take the money from the pension? I'm confused. Which is it. I am a client of Helps also, and I was told my pension is protected. Please explain
This discusses setoff by bank for a debt you owe that bank. Eric HELPS
if a credit card gets a judgement against you can they take the money out of your account ?
Twice the monthly amount of Federal benefits including SS deposited into a bank account is protected from garnishment regardless of the actual source of funds in the account at the time of garnisment. Here is a video from HELPS on this topic: th-cam.com/video/awL9JFT3gg8/w-d-xo.html You can call HELPS with questions 855 435 7787
if i get a judgement against me for a credit card debit will the bank take my money out of my bank account i only get social security
So if you have both a checking and savings at a bank, only the funds in the account that your social security goes into is protected from garnishments?
protected automatically yes, however if the money in the other account can be traced to SS then a claim of exemption could be filed and the court should order that money released. Eric HELPS
You say banks can take money in a checking account owed to them from overdraft. But what if there are two direct deposits from SSA and one is not the account holder? What if the person who’s SSA direct deposit is taken, did not authorize it and their name isn’t even on the bank account?
They can take it out. The key is that the money is owed to the bank because of the overdraft, regardless of the source of funds in the account or where they came from. Eric HELPS
So what is the ultimate outcome for most people, Is it Bankruptcy?
Absolutely not. When we talk about "most people," I am referring to seniors. The other videos on our channel explain why seniors income is protected and can't be garnished. Bankruptcy for the vast vast majority of seniors is totally unnecessary, let alone unafordable. Eric HELPS
they already took my wellfare and withdraw money from my bank account and just give me back the hallf
The video explains that a bank can offset monies in your account for charges owed to the bank such as an nsf check. It also discusses offset for money owed to bank on a loan. Welfare money is not Social Security so in theory could be offset for a loan that is owed to the bank. Best to change to a different bank where you don't owe money. Eric HELPS
@@HELPSNonprofitLawFirm yes is social security is a government check for people from low income in Quebec Canadá
Is your Social Security deposit safer in a small hometown bank or a larger bank like Bank of America?
No difference. Federal law protects your SS and the same rules apply to all banks, big or small Eric HELPS
@@HELPSNonprofitLawFirm Thank You.