In general, Social Security benefits are protected from garnishment by most creditors, including loan companies. The Social Security Act provides that Social Security benefits cannot be garnished to pay most types of debts, including credit card debt, medical bills, and personal loans.
However, there are some exceptions to this rule. For example, Social Security benefits may be garnished to pay debts related to federal taxes, federal student loans, and child support or alimony obligations. Additionally, if you owe a debt to the federal government, such as a defaulted student loan or overpaid Social Security benefits, the government may offset your Social Security payments to recover the debt.
It's important to note that if you have other sources of income or assets, such as a pension or savings account, those may be subject to garnishment by loan companies or other creditors. If you are facing garnishment or other collection actions, you may wish to consult with a legal professional or contact your state's attorney general or consumer protection agency for guidance.
