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Question :
If a judgment has been issued for a repossession deficiency will it affect a 401K when cashed in and can they place a lien on your home which is homesteaded or take the money if it is sold?
Category Debt Collection Interview Questions
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Answers:

A judgment creditor cannot levy on your 401(k), but they can levy on your bank account and money from a 401(k) distribution would be vulnerable if it was in your bank account at the time the levy occurred.

Filing a homestead does not prohibit a judgment creditor from filing a lien against your home. The judgment creditor can wait for you to sell or refinance your home. If there is enough equity in your home to pay off the mortgage and your homestead, there might be enough equity to be able to force a sale of your home.



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