Nevada | Bankruptcy
11/13/09, 3:21 pm
Legal Question
If I file BK 7 and have my paychecks direct deposited into my bank and have a credit card with them and also my Roth IRA, can my bank take my paycheck and/or IRA?
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11/18/09, 7:22 pm
Legal Answer
It depends. The contract that you have with the bank will describe what the bank's rights are. Most times, the bank takes a security interest in your checking account, so like a finance company repoing a car, the Bank repos your checking account. The Roth IRA should be different, as it is a federally protected assess, but why take chance?. Move your deposit accounts to a different institution!
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