If my federal pension is direct deposited to a foreign bank can it be touched by creditors?
Posted by Dolores
Richard K asked:
Rather than deal with bankruptcy, etc. as I am retired, I am thinking of permanently relocating outside the country and just forgetting about my debts. I have lived, and have an account in an asian country and can reside there permanently. Is this an option without drawbacks, such as freezing of pension or attachment of it?
Website content
Rather than deal with bankruptcy, etc. as I am retired, I am thinking of permanently relocating outside the country and just forgetting about my debts. I have lived, and have an account in an asian country and can reside there permanently. Is this an option without drawbacks, such as freezing of pension or attachment of it?
Website content
April 29th, 2010 at 9:19 am
Caffeinated Content
Nope….no creditors based in the US can touch it….
April 29th, 2010 at 5:21 pm
Create a video blog
You need to talk with a lawyer familiar with this area of the law rather than relying on just anyone who responds. Guess we, whoever deals with the companies you are not going to pay, will pick up the slack.
May 2nd, 2010 at 12:01 pm
Website content
Your federal pension cannot be used as an asset in a bankruptcy and therefore cannot be siezed by creditors.
I just went through a bankruptcy. If you have used the TSP, your money is safe from seizure.