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401(K) Savings and Bankruptcy

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  • 11-26-2007, 11:59 PM
    dumbquestion
    401(K) Savings and Bankruptcy
    Quote:

    Quoting Mr. Knowitall
    View Post
    If this is simply a form of savings or investment account, not a retirement account, don't expect any protection (beyond the state exemption applicable to savings accounts, which I believe is $125 in Massachusetts).

    What about 401k? Does this have to be liquidated when you file Ch7? Any exemption amount?
  • 11-27-2007, 08:36 AM
    aaron
    Re: mutual fund savings in Mass.
    A 401(K) should be exempt from bankruptcy.
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