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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17210
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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My personal debts were discharged a year ago under a Chapter

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My personal debts were discharged a year ago under a Chapter 7 filing. However, the case still remains open until a personal injury trial has ended (est. May 2013). If I withdraw $50,000 from my IRA and $50,000 from my 401K, can the Bankruptcy Attorney take that money away from me to pay my creditors? Would it be wise to wait until after May 2013 before taking a distribution(s) from my IRA/401K?

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on.

WALLSTREETESQ :

The IRA and 401K are exempted under the bankruptcy code so you could use them for expenses, and since your case was discharged, it should not be a problem.

WALLSTREETESQ :

If the trustee is waiting on a personal injury award only that would be given to the trustee.

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