I want to plan for retirement. I do owe money to credit card companies. So if I open an ira or mutual fund, can they get access to that money and take it?
Tags: Agencies, Cards, Collection, Could, Credit, Fund, money, Mutual, Start, Take, They
This entry was posted
on Monday, October 26th, 2009 at 7:43 am and is filed under Uncategorized.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
October 26th, 2009 at 8:14 am
no they can’t, they first have to obtain a judgement in court,
then you will have the option of paying or not. The only exception I am aware of is in NY state, they have what is called a “SEWERS LIEN”, some lawyers are good at it so beware
October 26th, 2009 at 8:24 am
Pay your debts first.
October 26th, 2009 at 9:01 am
If they sue you, yes. By the way, if you incur a debt you should pay it. You bought things using their money, now you don’t pay them? If you have money to stick into retirement funds, you have money to pay your credit cards off. You should do that first.
October 26th, 2009 at 9:38 am
Yes they can. Pay your debts and THEN start saving for retirement. It is never too late to live honestly…
October 26th, 2009 at 10:32 am
You need to take care of your obligations now. And if you have anything left over after all your debts, then put it in an IRA. But you debt should take priority. Obviously you haven’t figured that out yet.