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Answered 2009-10-24 21:35:58

No. It is protected by law.

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In bankruptcy can they take your 401K or IRA?


Is your 401k protected in bankruptcy?


Are assets in a 401k protected if you file bankruptcy?


Can your 401k retirement account be seized in a chapter 13 bankruptcy?


401k and bankruptcy?

I believe new bankruptcy law exempts all retirement from being touch during bankruptcy so it should be safe

What happens to 401k savings after bankruptcy?

Nothing they are exempt form seizure.

What will happen to my 401k when filing bankruptcy?

These assets should not be effected at all.

Can you withdraw 401k after discharge in bankruptcy?

The MAX amount you can draw is 300k.

If you file Chapter 13 bankruptcy can they take your 401K?

No...your retirement in a qualified plan (like a 401k), is exempt from seizure up to any amount!

When filing bankruptcy chapter 7 will they come after your 401k?

No. Never. It is exempt and protected.

Can you keep your 401k if you file for bankruptcy? is always exempt from seizure or use and will NOT be taken.

Can you re-ammortize your 401k loan payroll deduction payments if you are filing bankruptcy?

What are you possibly trying to say? (Your 401k is exempt from seizure and process in BK you know).

Section 522b of the US bankruptcy code Need to know if 401K is exempt of a petition of bankruptcy 7?

Generally, but the extent to which funds will be exempt depends on your jurisdiction. Check your local state bankruptcy exemptions.

How long are you affected by bankruptcy?

depends on the state

Can you withdraw from a 401k during chapter 13 bankruptcy?

No you can't it will be almost impossible to do so don't try to.

If a pastor files for bankruptcy can the church fund be affected?

If the pastor files for personal bankruptcy, no - the church fund can't be touched. If he files bankruptcy ON BEHALF of the church, then any and all funds and assets of the church can be affected.

If I file Bankruptcy-7, will I be able to keep my 401k/ my home/ and my cay?

Chapter 7 is a liquidation bankruptcy, you are giving up your assets. If you want to keep your home and car you would need to file a Chapter 11 Bankruptcy.

Can a federal pension be affected by bankruptcy?

Federal or private...NO

Can you take money out of your 401k after you file bankruptcy?

Yes, but not until your discharge. If you take money out of a 401K after you file and before discharge, the money is no longer exempt and could be taken by the Trustee. If you take it out after your discharge the money is yours.

Is it legal to borrow from 401k before chapter 7 bankruptcy is discharged?

Yes, but it is one of the absolute stupidest things financially you can do. By the end of th BK you will lose the 401k money, which is only protected while it is IN the 401k, and be left with the debt to the plan, which won't be discharged and will seize the money in the plan to be paid.

Will your current checking and savings account be affected by your filing bankruptcy?

Yes. It has to be turned over to the bankruptcy trustee to be counted as an asset.

How is your credit affected by a chapter 13 bankruptcy verses a chapter 7 bankruptcy?

Both have the same negative impact on your credit.

Will your credit rating be affected by your partner filing bankruptcy?

If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.

Which bankruptcy chapter was most affected by the change in bankruptcy laws in 2005?

The most significant change to the 1978 statute concerns consumer bankruptcy under the Chapter 7 liquidation provisions.

Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?

The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.