If a creditor gets a judgment against you and tries to take your property or wages in order to get paid, you may be able to protect your property by using exemptions. All states have "exempted" certain types of property from collection, such as equity in a home or car, food, or basic living necessities. If you are in danger of losing property or wages to a creditor, it's important to understand what property might be exempt and how to claim that exemption. In addition, in some cases other laws protect your assets (for example, the anti-alientation clause in ERISA retirement accounts).
To learn more about when creditors can seize property and wages, see our area on Debt Collection: Repossession, Wage Garnishment, Liens, Levies, and More.
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Using Exemptions to Protect Property From Judgment Creditors
State exemption laws protect certain types of property from collection by creditors.
How to File a Claim of Exemption
Find out how to file a claim of exemption in order to prevent a judgment creditor from taking your property.
Can Judgment Creditors Go After My Retirement Accounts?
Your ERISA-qualified retirement accounts are generally safe from judgment creditors. But other accounts may not be.
Are My Retirement Accounts Protected From Judgment Creditors in California?
Find out if judgment creditors can go after your IRAs, 401ks, pensions, and other retirement accounts in California.
Can Judgment Creditors Go After My Retirement Accounts in New York?
In New York, for the most part your retirement accounts (like 401(k)s and IRAs) are safe from judgment creditors.