Legal Question in Bankruptcy in California

Re: bankruptcy for seniors and 401's

It's doubtful, but it depends on how much is in your retirement plan, whether or not it is ERISA qualified, and what the value of your other assets is. If you'd like a free phone consultation, please visit my webpage at http://www.bklaw.com/consult.html and then contact me to schedule a time.

Regards, Mark

Re: bankruptcy for seniors and 401's

Hello. I am Gary Fraley, owner & founder of the 25+ year old bankruptcy law firm "California Bankruptcy Attorneys". We represent clients exclusively in Chapter 7 bankruptcy & Chapter 13 debt reorganization.

Both my wife & I are California State Bar Certified Specialists in Personal & Small Business Bankruptcy Law.

Generally if this is a 401(k) or IRA it will be protected. If it also is Employee Retirement Income Security Act (ERISA) qualified, it should be safe from the creditors.

We will be happy to give you a free, no pressure, attorney consultation on our free 800 phone line. At that time we will discuss all your options to help you determine if bankruptcy is right for you.

Our firm serves clients throughout California. All services, except for the creditors meeting, can be done by phone, mail, email or fax saving you the hassle of going to a law office. An attorney representing my firm will appear with you at all hearings. I invite you to check out our Clients Bill of Rights, our Client Testimonials, & our Online Law Office at ca-bankruptcy-attorneys.com.

Please contact us immediately so we can set your free attorney consultation. I look forward to talking with you soon. Thank you for giving me the opportunity to help solve your financial problems.

Re: bankruptcy for seniors and 401's

Your retirement savings are usually exempt, but it would depend on how they are held and in what type of plan, as the federal and state exemptions are specific as to what plans are exempt and which are not. Just make sure you have a bankruptcy attorney review your plan(s) and advise you before you file the bankruptcy.