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I am in the process of filing for bankruptcy. How does this affect my retirement benefits from my STRS account. I am also contemplating withdrawing this account
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Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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Qualified retirement funds are protected in bankruptcy.
If you are already receiving distributions from your retirement, those distributions are income and will factor into your budget and hence your eligibility to file under the various Chapters. A consultation with an experienced bankruptcy attorney will clarify your eligibility and options.
Answered on Feb 07th, 2017 at 9:23 AM