QUESTION

Are IRA's and 401K save durnig a chapter 7

Asked on Sep 21st, 2012 on Bankruptcy - Georgia
More details to this question:
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1 ANSWER

Antonio B. Mari
In Georgia, yes. In a bankruptcy you can exempt assets under Georgia Code 44-13-100. The law does contain a provision that these assets are kept to the extent reasonably necessary. But because it hard to predict how much you might need in the future, most people who file will have no problem keeping their savings. 
Answered on Sep 24th, 2012 at 3:47 PM

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