Bankruptcy Generally Protects Retirement

You may have already dealt with creditors who have perhaps told you that you should empty out your 401(k) to pay off your credit card or other debt. Perhaps you have even been told that if you declare bankruptcy, the court will take your retirement accounts from you.

Generally speaking, bankruptcy protects your 401(k), IRA, pension and other retirement accounts. There are always exceptions, of course, which is why you want to speak with an experienced bankruptcy attorney as soon as possible.

But Which Attorney Should You Choose?

Here at Michael J. Logan, LTD., in Springfield, Illinois, we can provide you with more than 35 years of experienced legal judgment. That means that lawyer Michael Logan understands the law and, equally important, how that law applies to your specific situation.

Moreover, we make a point of assisting you in a personalized manner. We do not simply process you as a pile of paperwork. Instead, we work to understand your current situation and where you want to go in the future.

That individualized approach makes it possible for us to take the time needed to explain how bankruptcy exemptions work. If something is exempted in a bankruptcy that means you get to keep it. For the most part, retirement accounts and the like are exempted.

If in examining your case we can determine that you have a particular retirement account or amount that is not exempt, we can still help you. There may be other ways to protect that account as provided for under the law.

Will I Lose My Retirement?

Schedule a free first appointment with us to learn more about how we can help you. Call 866-258-6719 or reach us online.