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  1. #1
    Join Date
    Feb 2013
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    10

    Default Can Your IRA Be Garnished if You Live Abroad

    My question involves collection proceedings in the State of: NJ

    Under BAPCPA 2005 IRA's upto 1.1million are protected from creditors, so that folks do not become dependents of the State for medical reasons etc.

    But what happens if the Debtor goes overseas. Obviously debtor does not belong to any State. Then what happens. Federal or back to the state where the judgment was delivered (CA)

  2. #2
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Ira's Garnishment Proof

    Haven't you figured out from the lack of responses to your issues that the purpose of the forum is not to assist you in defrauding creditors?

  3. #3
    Join Date
    Feb 2013
    Posts
    10

    Default Re: Ira's Garnishment Proof

    No defrauding here. Just rules

  4. #4
    Join Date
    Nov 2013
    Posts
    128

    Default Re: Ira's Garnishment Proof

    My guess would be that the federal law on IRA garnishments would apply. Also, if you file your taxes, the creditor could go by the laws of the state that you claim as "residence" for tax purposes.

  5. #5
    Join Date
    Oct 2006
    Posts
    16,474

    Default Re: Ira's Garnishment Proof

    Quote Quoting TroubledHell
    View Post
    My guess would be that the federal law on IRA garnishments would apply. Also, if you file your taxes, the creditor could go by the laws of the state that you claim as "residence" for tax purposes.
    Someone living abroad only files federal taxes...they do not have a US state of "residence" for tax purposes.

  6. #6
    Join Date
    Aug 2013
    Posts
    284

    Default Re: Ira's Garnishment Proof

    BAPCPA 2005 is a bankruptcy law. Unless you have filed bankruptcy, those provisions would not apply.

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