from24/7 Wall St.
2 days agoDelaying Benefits to Age 70 Backfires When Federal Garnishment Takes Its Cut
Most people believe Social Security benefits are untouchable. While creditors can't generally garnish these payments, federal law creates important exceptions that can reduce monthly checks for millions of retirees. Understanding which debts can reach your benefits matters because Social Security often represents the majority of retirement income. For someone relying on $2,000 monthly, losing even $300 can mean choosing between prescriptions and groceries.
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