Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.
401k are exempt under chapter 7 bankruptcy cases, so keep the funds in there, and they will be protected when you file.
If you cash them out, then it could be liquidated as cash.
Let me know if you have any other questions. Thanks. Terry
my situation is I own my home and have a car payment and would like to keep them but I had bought a car for my daughter which was in my name and she was injured and it was volunterly surrendered after it was sold at auction the balance owed is 9000 which i can't afford to repay and thought bankruptcy would be an option also are there income guidelines for chapter 7
I feel for the price I should have an answer for my other question
I just wanted the rest answered I thought for the price I would be able to continue the conversation would he answered was great!
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