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Can a bank I owe money to, take Social Security funds from another bank I have an account at?


I owe money to Bank "A." I've since opened a checking account at Bank "B." If I have my monthly Social Security Direct Deposited to Bank "B," can Bank "A" GET any of these funds? Social Security is my sole income.

In the U.S. Technically No. even with a court order. Social Security can not be garnished for any debit except for taxes, back payment to Social security benefits, and possible back child support. If the bank did this without approval from you. It would be illegal.

If you get a summons. Go to court that day (or on Monday if it is a weekend) to file the counter claim paperwork and saying these benefenits can not be touched under federal law. Then go to court on that date. Then say the same thing to the judge.

Not without a court order.

Depends on what action they take. Bank A can sue you for failing to pay your debt. If they find out about your other bank than they can get a court order forcing you to pay. However, much of this is unlikely unless you owe them a large amount.

Most likely they will be report it on your credit report. So hopefully, you won't need any loans in the 7 years because you will get a bad interested rate it you do.

There is also the moral question, that if you owe money to someone (even a bank) and you have the money, why aren't you repaying? You made a promise to them to repay and now you are reneging. The right thing to do is to repay, even if it is small amounts like $50 a month. (sorry, this needed to be said)

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