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  1. #1

    Default 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?

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: mutual fund savings in Mass.

    A 401(K) should be exempt from bankruptcy.

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