Welcome To The MN Bankruptcy Blog

Inside you will find over 500 helpful articles discussing the Chapter 7 & 13 Bankruptcy Process and other solutions for difficult financial situations.


      401k Accounts and 401k Loans in Bankruptcy

      Posted by Wesley Scott on May 25

      The law is very generous for allowing people who file for bankruptcy (aka “debtors) to keep and protect their retirement accounts.  Absent unusual circumstances, retirement accounts, such as IRAs, 401k accounts, and pension plans are generally fully exempt in bankruptcy, meaning that they cannot be taken to pay creditors.  One of the most common types of retirement accounts that people have is a 401k account.

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