Don't Lose Your Hard-Earned Savings
Filing bankruptcy does not mean that the courts will raid all of your savings accounts. You worked hard to build up your IRA or 401k. At the law office of attorney Judith A. Descalso in Escondido, California, we will help you protect those valuable assets and secure that second chance.
Protecting your assets is paramount in a bankruptcy filing, particularly money you are putting away for your children. You need a seasoned lawyer to help with that protection. Contact us at (760) 670-4863 or toll-free at (866) 497-6196.
Protecting Your IRA and 401k
A 401k is an ERISA-qualified plan and an exempt asset. That means that it will not be included in a Chapter 7 bankruptcy filing. IRA's require a more thorough review. The amount of the IRA, your age, and necessary expenses in supporting your family are factored together. In most cases, qualified retirement plans will be exempt and your money will not be turned over to creditors.
A Fresh Start with Your Assets Intact
At the law office of Judith A. Descalso, we understand the stress of financial problems. The fear of losing valuable possessions prevents many clients from filing bankruptcy. Their stress just continues.
Many myths exist about bankruptcy, including the loss of valuable assets. You won't lose your furniture. You don't have to lose your house or car. You can protect your 401k and IRA as well.
Contact Us
For more information or to schedule an appointment with an experienced lawyer regarding 401k exemptions and IRA exemptions, please contact us.
