Will My Retirement Account Be Taken in Bankruptcy?
Are you swimming in debt? Do you believe that
Chapter 7 is the right option for you? Are you worried that you will not qualify?
Before you despair, talk to an experienced bankruptcy attorney. Our attorneys
will help to analyze your debt and guide you through your options.
Our attorneys at Sulaiman Law Group, LTD., provide our clients with experienced,
knowledgeable legal advice. We are aggressive in pursuing the kinds of
resolutions you need and are dedicated to alleviating our clients of burdensome
debt. Let us use the law for your benefit. We are located in Oak Brook,
Illinois, and serve a broad range of clients in Chicago and the surrounding areas.
Contact a bankruptcy attorney to discuss how your assets will be handled
in a Chapter 7,
Chapter 13 or
Chapter 20 bankruptcy. Call us at 312-313-1613.
What Happens to My Retirement Accounts?
One of the main concerns that older individuals have when faced with bankruptcy
is what will happen to my retirement accounts if I become bankrupt? We
are pleased to tell you that your retirement accounts are protected in
the event that you file for bankruptcy.
My Income Is Too High for Chapter 7 Bankruptcy
To qualify for bankruptcy, you need to have a low enough disposable monthly
income. In some cases, individuals might have difficulty qualifying for
a Chapter 7 bankruptcy, which may be more advantageous because it offers
a chance to wipe away debt. It is important to understand that money that
is put into your retirement count is not considered when determining eligibility
for Chapter 7 bankruptcy. In addition, putting more money in your retirement
account is beneficial because it allows for a more secure future.
The means test is generally used to determine if an individual qualifies
for Chapter 7 bankruptcy. However, it is important to note that in some
cases you do not have to qualify. In some cases. you may make a very high
salary and may still qualify for Chapter 7 bankruptcy. To learn more about
how this is possible, you need to speak with one of our experienced attorneys.
Contact a Bankruptcy Lawyer
If you are interested in filing for bankruptcy as a solution to your mounting
debt, it is important that you speak with an experienced and knowledgeable
Chicago bankruptcy lawyer. We will guide you through the process, helping
you every step of the way.
Contact us online or by calling us at