I may have to retire soon for health reasons. If I default on my unsecured credit-card debt, can my Social Security benefits or pension be garnished?

Q & A

I may have to retire soon for health reasons. If I default on my unsecured credit-card debt, can my Social Security benefits or pension be garnished?

Posted on August 28, 2013

Answer: I’m sorry to hear about your health issues — and I’m equally sorry to hear that you haven’t saved enough money to pay your debts. My guess is that, given your forced retirement and debt issue, you will also have a budget issue after leaving work. Retirement can be comfortable if you have health and wealth. With neither, you must be cautious before doing anything that could make your situation worse. Read more.

Source: Detroit News, August 5, 2013

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