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Debt Collections Issues involved in the collection of debts, including car loans, student loans, credit cards, judgments and medical debts.

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Old 10-10-2005, 06:35 PM
howardg22 howardg22 is offline
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Location: NYC
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Default Lawsuits and retirement accounts
If I get sued for whatever reason, are my retirement accounts at risk? If so, is there any insurance to protect me against that?
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Old 10-10-2005, 07:44 PM
Mr. Knowitall Mr. Knowitall is offline
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Default Re: Lawsuits and retirement accounts
Quoting howardg22
If I get sued for whatever reason, are my retirement accounts at risk?
Most retirement accounts are shielded from creditors. The protections are greater for qualified plans, and are lesser for IRA's - so the specific answer varies depending upon how your retirement accounts are structured.
Quoting howardg22
If so, is there any insurance to protect me against that?
Liability insurance for... whatever risk you believe you may have for being sued. Car insurance for your car. Homeowner's insurance for your house. Business insurance for your business. Malpractice insurance if you are a professional. Etc.

With a broad umbrella policy "just in case".
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