I owe money to credit cards and collection agencies, if I start a mutual fund or ira could they take that m?
July 21st, 2010
I want to plan for retirement. I do owe money to credit card companies. So if I open an ira or mutual fund, can they get access to that money and take it?
My Related Websites
- Traditional to Roth IRA Conversion at Vanguard » My Money Blog
- Should I Contribute To A Non-Deductible IRA? Part 1: Future Roth …
- 2010 Roth IRA Income Limits Removed » My Money Blog
- 2010 Non-Deductible Traditional IRA Contribution Made » My Money Blog
- 2008/2009 NonDeductible IRA Contribution Decisions » My Money Blog
- Undo a Roth IRA Conversion For Profit – Tips & Tricks » My Money Blog
- Mutual Fund Hidden Cost: Brokerage Commissions » My Money Blog
- Vanguard Mutual Funds vs. ETFs: The Decision Process » My Money Blog
- Vanguard Mutual Fund to ETF Share Conversions » My Money Blog
- Credit Card Debt – What Credit Card Companies Hide From You …
- The Benefits From The Credit Card | Financial Advice
- 3 Credit Card Debt Myths – You Can Be Debt Free | Business …
- Obtaining Consolidation Loans For Credit Card Debt Relief …
- 5 Baby Boomer Retirement Tips
- Latest Retirement Auctions
- Jewlicious THE Jewish Blog » Young “Jewish” Money “Remix” (Free …
- Jenkins Considered Retirement? » Jets Gab
- Credit Card Companies Responding to Legislation: Good and Bad News
- Mutual Funds: Top 5 Precious Metals Funds | Daily Markets
- Existence of the Long short mutual Fund | what is mutual fund
Mail this post
Posted in 
Tags: 
no they can’t, they first have to obtain a judgement in court,
then you will have the option of paying or not. The only exception I am aware of is in NY state, they have what is called a "SEWERS LIEN", some lawyers are good at it so beware
If they sue you, yes. By the way, if you incur a debt you should pay it. You bought things using their money, now you don’t pay them? If you have money to stick into retirement funds, you have money to pay your credit cards off. You should do that first.
You need to take care of your obligations now. And if you have anything left over after all your debts, then put it in an IRA. But you debt should take priority. Obviously you haven’t figured that out yet.
Pay your debts first.
Yes they can. Pay your debts and THEN start saving for retirement. It is never too late to live honestly…