Can retirement wages be taken on voluntary repo of a vehicle in Florida?

Florida law prohibits creditors from garnishing retirement wages. Garnishment is a legal process that allows creditors to collect debts by taking money directly from an individual's wages. However, there are some exceptions to this general rule, and one of those exceptions is for the voluntary repossession of a vehicle.

If you voluntarily repossess your vehicle, the lender may be able to take your retirement wages to satisfy the debt. This is because voluntary repossession is considered a breach of contract, and creditors are generally allowed to collect debts that are owed to them due to a breach of contract.

However, there are some limitations on the amount of money that a creditor can take from your retirement wages. For example, the creditor can only take up to 25% of your disposable income. Disposable income is the amount of money that you have left over after paying your essential living expenses, such as food, housing, and transportation.

Additionally, the creditor must first get a court order before they can start taking money from your retirement wages. This means that you have the opportunity to object to the garnishment and to present your case to a judge.

If you are facing garnishment of your retirement wages, it is important to speak to an attorney to discuss your rights and options.