Lien on Social security funds
Can a banking insitution take the funds that are deposited into a checking account for Social Security benefits. My father is considering turning his motorhome back to the bank in which fiances it due to the fact he can not make the payments due to the death of my mother and the loss of her income. Dad gets Social Security as his only income at a amount of 800.00 a month and has no additional funds to make this debt payment. He is concerned that the bank can put a lien on his Social Security. Is this true? Please advise.
Re: Lien on Social security funds
if the only income is social security, they cannot put any lien on it. however, if the social security is mingled with other incomes in the account, they can claim lien on the entire amount.
