QUESTION
What will happen to my 401k if I file for bankruptcy?
Asked on Feb 28th, 2011 on Bankruptcy - Tennessee
More details to this question:
I moved my 401k into a banks retirement money market account (traditional rollover IRA) when the economy went south. It is the kind I can withdrawal on and put back within 30 days and not get penalized once a year. I am thinking of filing bankruptcy, and I have my checking account with them and I owe money on a credit card with them. Can they seize my account? Thanks.
1 ANSWER
William C. Gosnell
If the 401k is accessible by you its accessible by trustee use your personal property exemption.
Answered on Mar 01st, 2011 at 5:26 PM