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chapter 7 filings 8 years from the time of discharge and the time for filing a chapter 13 after a chapter 7 discharge 4 years.
The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.
The 401k is not taxed but the Roth 401k will be best in the long run as the money you get out wont be taxed then.
As long as you don't obtain any collections, late pays, etc. after the discharge of the bankruptcy.
You may be able to tap into your 401(k) plan assets during a financial emergency. But while taking a loan or a hardship withdrawal may help solve an immediate need, there can be consequences that may reduce your long-term security.
chapter 7 filings 8 years from the time of discharge and the time for filing a chapter 13 after a chapter 7 discharge 4 years.
10 years from discharge...everywhere
The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.
The 401k is not taxed but the Roth 401k will be best in the long run as the money you get out wont be taxed then.
As long as you don't obtain any collections, late pays, etc. after the discharge of the bankruptcy.
You may discharge medical bills that are accrued up until the day your case is filed in either chapter.
8 years from the date of discharge of the previous chapter 7.
You may be able to tap into your 401(k) plan assets during a financial emergency. But while taking a loan or a hardship withdrawal may help solve an immediate need, there can be consequences that may reduce your long-term security.
Most companies will allow you to leave your 401k plan with them as long as the balance is over five thousand. If the balance is lower than that they will most likely return it to you as a check. Rolling your 401k will usually cost you a 10% early withdrawal penalty. If you cash your 401k you will get a penalty plus have to pay a huge amount of taxes to the IRS. So consider all options before making the leap to switch companies.
The time-frame for a Chapter 7 bankruptcy case in Idaho is the same as all other states. The discharge should arrive between three and four months after filing. This assumes that no creditor nor the Trustee has filed an objection to such discharge.
You can rollover your 401k at any time, as long as it has been 60 days since it was opened. The company holding your 401k benefits has its own rules.
As of October 17, 2005, the new time limit for filing a Chapter 7 is now eight (8) years from the discharge date of a previous "7" filing. The time limit for a Chapter 13 is four (4) years from the discharge date of a previous "7" and two(2) years from the discharge date of a previous "13".