bank loan for auto,

vhinkle · Joined: 03 Nov 2007 Posts: 1 1.30 Dollars($)

i was married, bought a truck, now im divorced, my husband made the payments, he had me sign a paper, giving him possesion of it and the title once its paid. he cant be found , he has truck,, the bank says they can take the payments out of my social security that i deposit in bank to live on... can they do that legally..

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi,

Was your name there on the loan? If so then it is your responsibility to make the payments as your husband is not available.

But bank cannot take the payments out of your social security. Even if bank get a judgment against you, it cannot take out payments from your social security because Social Security benefits are protected by law.

Thanks,
Larry

Samantha

Hi Vhinkle,

Usually it is not possble for the bank or creditor to take out money from your Social Security account in the bank. The Social Security benfits are protected by law and as such even if a judgement is passed against you, no creditor can garnish your income if social security is the only source of your income. But have you signed any authorization letter stating that the bank can withdraw the beenfit on your behalf?

I doubt if your husband has made you sign on any such paper or not. In such a case, the bank might get the authority to take out the cash from the account or else why would they just go on saying that they have the right to take your money, that too, the social security income which is protected by law.

My suggestion will be to contact the bank officials and ask them if they have any such papers being signed by you. Then contact an attorney and take his advice on any further course of action.

Hope this helps...

God bless you.

Samantha

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