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Debt Consolidation Forums Bankruptcy Chapter 7 and Chapter 13 forums

if i file chapter 7 can i keep an ira account

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i owe about $60,000 i have 34,000 in an ira if i file does that wipe out my ira account?




Depends upon the exemptions allowed in your State but, in most instances, IRAs are exempt. However, even if exempt there may be a window in which contributions can be recovered by the bk Trustee - for example, in Arizona, contributions made within 120 days prior to filing can be taken by the Trustee. Outside of 120 days, the qualified IRA account is exempt.


Des.


Sub: #1 posted on Mon, 04/22/2013 - 18:12

despritfreya despritfreya

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