If you give anyone more than $600 within 90 days of your bankruptcy filing date, the trustee can take the money back so it can be shared fairly by all your creditors. If A Company Goes Bankrupt What Happens To My 401. Can a company take your 401 money? Generally, no. In addition to protecting your retirement savings in bankruptcy, the ERISA is a federal law that …
Can And Will Bankruptcy Take My 401K?
In most cases, you can protect funds in a 401k and other tax-exempt retirement accounts from your creditors in bankruptcy. Read on to learn more about why your 401k account is likely safe if you file for Chapter 7 or Chapter 13 bankruptcy. Once you understand your 401k options, find out how to protect other property in bankruptcy using bankruptcy exemptions.
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