Top Answer
User Avatar
Wiki User
Answered 2011-09-12 14:18:57

According to my financial planner, a 401k plan cannot be be touched in any debt judgment. However in case of divorce your spouse gets half. As for a standard IRA account I believe this holds true as well, but I would check with the plans administrator to be sure.

User Avatar

Your Answer


Still Have Questions?

Related Questions

Can credit card company place a judgment on IRA retirement account in ny?

No..IRA or just about any qualified retirement account are free from judgments.

Can credit card company garnish state retirement check in Florida?

Credit card companies could not garnish a retirement account at one time in Florida.

What is the name of a high interest retirement account in Omaha, NE?

Omaha School Employees' Retirement Systems(OSERS) is the high interest retirement account in Omaha,NE, it gives a 2% credit by multiplying the years of retirement.

How do you use the word arbitration in a sentence?

After I refused to pay my credit card bill, the credit card company requested arbitration to order me to pay. Arbitration settles what mediation cannot. A difficult labor dispute was finally settled by binding arbitration.

What is a saver's credit when filing taxes?

The saver's credit is officially called The Credit for Qualified Retirement Savings Contributions. It is a federal tax credit for low and moderate income people who make a contribution to a retirement account such as an IRA, 401k, 403b, etc. Fill out Form 8880 to see if you are eligible:

In a judgment can a creditor get the money from a California retirement account?

I am unable to pay my utilities and credit cards and was wondering when the creditors place a judgement on me if my retirement money can be taken, it would mean then not being able to pay mortgage

What kind of account for credit cards?

A credit account

What is the minimum investment for Ira's and other retirement funds?

Depends. Many banks or credit unions will allow you to open an IRA account for as little as $100.

Where could I seek debt arbitration in Milwaukee, WI?

C Sc Credit Services provides debt arbitration services. It is located at Milwaukee, WI 53201

can credit card co.garnish disability or retirement checks?

A credit card company may win a lawsuit against you to garnish your disability or retirement checks.

Do all credit cards have arbitration clauses?

Hard to say "all"...but they are very common.

Your credit report has two creditors with the same credit card number?

usually this is because the original lender sold the account to a new lender which takes on the loan/debt, but the paper trail is still left on a persons credit report. If a company goes out of business they also liquidate their assets/accounts to another creditor. It also can be because the person did not pay on the account and it was sold to another creditor or a collection company. The most rare case would be that there is a mistake on a persons credit file and should contact the credit report company.

What is the difference between debit account and credit account?

There are two main differences that stand out between a Debit Account and a Credit Account, those are;A Debit Account always maintains a Debit Balance, meaning the account increases with a Debit to that account and decreases with a Credit to that account. These are generally Asset Accounts.A Credit Account is just the opposite, A Credit Account maintains a Credit Balance, meaning that the account increases with a Credit and decreases with a Debit, these accounts are usually used for Liabilities and Owners Equity (Stockholders Equity).

What is a checking account at a credit union?

what is a chekcing account at a credit union

Does a Credit to a liability account increases or decreases?

It increases the credit account

Do the Thurstons qualify for the retirement savings contribution credit?


What credit means that an account has been increased?

Any credit is an increase to an account. A debit is a decrease to the account.

Is a line of credit considered a revolving account?

Yes, if the account type is considered a line of credit it will be calculated into your revolving account balance on your credit report.

How does a credit card account differ from a checking account?

A credit card account comes with a credit card, which can be used to authorize purchases of any value. The checking account does not come with a credit card and is used for issuing checks.

Difference between current account and cash credit account?

i am a student and wanted to open my account should i open a current account or credit account

When does accounts receivable have a credit balance?

If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.

Where do you hit the cost of removing a fully depreciated asset IE asset 5000.00 so retirement entry equals credit asset account and debit accumulated depreciation account what about 200 removal cost?

Journal entry for removal cost: Debit Removal cost 200 Credit Cash 200

What journal entry for provident fund?

Salary Account - Debit To PF Account - Credit To Employee Account - Credit

What is savings account called at a credit union?

A savings account at a credit union is generally called a share account.

Can you pay a credit account with a credit card?

Yes as long as it's a different account.