Vulnerable assets in small claims judgements

[jlianke]

I live in Kentucky and I am currently seeking a judgement against a former tenant. She has no bank accounts that I am aware of but she does have an automobile and a 401 K with a former employer. Is the 401 K fair game or a protected asset and what will filing a lein against her auto do for me? Any info would be helpful.

 

[Michael Wechsler]

I'm not sure whether the 401K is protected -- some states qualify it as falling under their state exemption for retirement plans and may even be excluded in bankruptcy proceedings as part of the estate, as ridiculous as that may sound. (It doesn't make sense if the creditor needs the money to live currently while another is making plans for the future.) The area is called "ERISA" -- Employee Retirement Income Security Act.