Depending on your age and how long you have worked, your 401K could have upwards of hundreds of thousands of dollars in it. And, if you are contemplating bankruptcy, you may be worried about losing your investments to your creditors. Fox Law can reassure you; you do not have to worry about losing your retirement funds in bankruptcy. Your 401K monies are exempt assets — they cannot be used to repay your creditors.
Protect Your Retirement Funds From Creditors. Call Today.
If you would like to learn options to protect 401K and retirement accounts, call our to speak experienced Bankruptcy Attorney Eric Fox. Call us today at (615) 264-5695 for a free consultation via phone, in-office, or video conference.
I Worked Hard for My Money, and I Want to Keep It. Can I?
Bankruptcy law is on your side, and so is our law firm. The bankruptcy code will protect your retirement account. Whether you file Chapter 7 or Chapter 13 bankruptcy, your 401K is safe, no matter how much or how little money you have in there.
Should I Use My Retirement Fund to Pay Creditors?
No, you shouldn’t. It may seem tempting to withdraw money prematurely to pay creditors. However, you will pay taxes and penalties if you withdraw the money. And, you will have less money in your retirement account for your future. Our attorney advises you to look at the entire picture of your life now and after bankruptcy.
Contact an Asset Protection Attorney
Call us today at (615) 264-5695 for a free consultation via phone, in-office, or video conference with experienced Bankruptcy Attorney Eric Fox.
We are located in Hendersonville, Tennessee and have been assisting residents all over Middle Tennessee for 18 years. Our office hours are Monday through Thursday from 8:00 a.m. to 3:30 p.m., Fridays 8:00 a.m. to 3:30 p.m., with evening and weekend appointments available upon request.
We are here to help you.