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SB 301

Exemptions from garnishment; minimum protected account balance, certain benefit payments.

2026 Regular Session Introduced by Schuyler VanValkenburg

SB 301 expands Virginia wage garnishment exemptions by protecting minimum bank account balances and benefit payments from creditor seizure, shielding vulnerable debtors' essential funds.

Acts of Assembly Chapter text (CHAP0638)
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Bill Summary · SB 301

Legislative bill overview

SB 301 would expand protections for Virginians from wage garnishment and bank account levies by establishing or increasing minimum protected account balances that creditors cannot seize. The bill specifically shields certain benefit payments (likely Social Security, unemployment, disability benefits) and essential living funds from garnishment proceedings.

Why is this important

Garnishment can severely harm working families by reducing take-home pay below subsistence levels. This bill addresses a practical problem: creditors can legally drain bank accounts leaving debtors unable to pay rent, utilities, or food. By creating a protected floor of funds, the legislation aims to balance creditor recovery rights with debtor financial survival.

Potential points of contention

  • Creditor impact: Lenders argue that expanded exemptions reduce their ability to recover legitimate debts and may increase interest rates or lending restrictions for higher-risk borrowers
  • Definition complexity: Determining which accounts qualify and what constitutes a "minimum protected balance" requires clear definitions; ambiguity could create litigation and enforcement challenges
  • Scope uncertainty: Without seeing the full text, it's unclear whether protections apply equally to all debts (credit cards, medical bills, child support) or exclude certain obligations—different treatments raise fairness questions

Compiled from official sources — confirm details with the bill’s official record.

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