In many cases, you can protect your 401(k) retirement savings when filing for bankruptcy, thanks to specific federal and state exemptions designed to safeguard retirement funds. Here’s how your 401(k) may be protected during bankruptcy proceedings: Federal Exemptions: Under the federal bankruptcy laws, retirement accounts, including 401(k) plans, are typically protected from creditors during bankruptcy […]

When you file for Chapter 7 bankruptcy, most types of retirement accounts are protected and exempt from being taken by the bankruptcy trustee to pay your creditors. This protection is crucial because it ensures that individuals going through bankruptcy can still look forward to a secure retirement. Here’s a detailed look at how retirement funds […]