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Think that Pre-Paid Debt Card is Safe?


TomnTex
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If you think that pre-paid debit card you bought to keep a creditor from garnishing your income is going to help. Read these:

 

http://www.mattberkus.com/blog/2011/03/can-pre-paid-debit-cards-be-garnished/

http://www.mattberkus.com/blog/2013/01/can-prepaid-debit-cards-be-garnished-part-ii-what-about-gift-cards/

 

I wondered about that when I signed up for a DirectExpress card for my SS.  The question was poised to the agent and he said since SS funds are exempt and you can only use SS funds to reload these cards they are by law exempt from liens and garnishments.  If on the other hand if you withdraw funds then deposit them into a checking or savings account they are open to garnishment.  Good information though.

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