No.
No. There are, however, two points at work here as follows:
A 401(k) account is a retirement account that is generally protected from creditors. You are only allowed to access the funds at retirement or through loans where you are effectively borrowing money from yourself and paying yourself back that money with interest.
Garnishing is a phrase that implies money being taken from income of some sort.
Putting this all together, a loan company, if they get a judgment against you, could garnish your wages but would not be able to touch anything that has to do with your 401(k).
yes IRS will garnish 401k because they see it as a income.
NO
If the the loan co takes you to court and obtains a judgment against you, yes, they will garnish your wages.
No.
YES!
yes IRS will garnish 401k because they see it as a income.
NO
If the the loan co takes you to court and obtains a judgment against you, yes, they will garnish your wages.
No.
YES!
If you default on a loan and Ford sues you, it can garnish your wages if it wins the lawsuit.If you default on a loan and Ford sues you, it can garnish your wages if it wins the lawsuit.If you default on a loan and Ford sues you, it can garnish your wages if it wins the lawsuit.If you default on a loan and Ford sues you, it can garnish your wages if it wins the lawsuit.
No. In the state of Texas a creditor cannot garnish your wages no matter how much is owed.
Can I get some of my husbands 401 k
Yes if you filed a join tax return Or you have a join bank account. IRS will garnish 401k because they see it as a income.
if i signed a wage assignment at a payday loan company in illinois can they garnish my wages?
If the judge awards that as a method of satisfying the terms of the loan, probably.
What do you mean "illegal"? If you signed a promissory note, and did not fulfill your end of the bargain, that individual or company can sue you. If you do not show up to defend yourself, they will get a default judgment and can garnish your wages.