Here’s the scoop on four common questions about debt

Here are answers to some of the most common questions on dealing with debt.

Should I borrow from my 401(k) or IRA to pay off debt?

By jumping ahead directly to solutions, you might end up solving the symptom but never addressing the cause of your problem. My suggestion is to fix today’s problems with today’s resources and look forward to a better life tomorrow.

My ex-spouse was assigned certain debts in our divorce, but is not paying and is ruining my credit. What can I do?

If you are a joint owner on the account, the creditor is within its legal rights to attempt to collect the debt from you, and the charge-off for this debt will stay on your credit report. Ask your attorney about having the court hold your ex in contempt for not living up to his divorce decree.

Are my Social Security benefits protected from bank levy or garnishment?

The U.S. Department of the Treasury requires banks to protect federal benefits from being garnished. But in order for the federal benefits to qualify for protection, they must be directly deposited into the bank account, and the protected amount is restricted to the total of the previous two months of benefits deposited immediately preceding the garnishment order.

Will my fiancee’s creditors come after me for her bills after we are married?

Any debts that were incurred before the marriage remain the sole responsibility of the owner of the debt after the marriage. Should your new bride’s creditors sue in court to collect and receive a judgment, it could be used to garnish a joint bank account that you share with her.

More in Herald Business Journal

Tesla rolls out the design for its 500-mile electric big rig

The truck will have an Autopilot system, which can maintain a set speed and slow down in traffic.

How Airbus’s A380 deal with Emirates evaporated in Dubai

It came down to concern by Emirates that Airbus might shut down the jumbo program.

Trader Joe’s recalls packaged salads over contamination fear

Turkey cranberry salads sold in Idaho, Oregon or Washington are at risk.

Equipment rental and sales business H&E opens Mukilteo shop

Company hopes to capitalize on construction occuring in northwest Washington.

New Chick-fil-A draws dozens of campers in Bothell

A second restaurant of the popular chain is opening on Thursday.

Tulalip Resort Casino to feature locally grown hazelnuts

The resort wanted to put a focus on meals created with the nut.

Alderwood Water general manager named president of state association

Alderwood Water & Wastewater District General Manager Jeff Clarke has been installed… Continue reading

Boeing earns top marks for LGBTQ workplace policies

Boeing was one of 609 businesses nationwide to earn a 100-point score… Continue reading

Aerospace workers adjust to changing industry

The number of Boeing workers dropped almost 10 percent since last year

Most Read