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View Full Version : Withdrwing from ira


noura1
Feb 8, 2010, 10:16 AM
The only monthly income is $2000/month from my rollover ira. Can credit card garnish my this income in Texas law

ebaines
Feb 8, 2010, 10:19 AM
No, and yes. TX protects up to $1M of your retirement funds from creditors (except for the IRS). So they can't get at the principal in your IRA if it's under $1M in vlaue. But once cash is sent to you and you put it into your checking account, it is no longer protected, unless you have declared bankruptcy.