MenuRetirement accounts are often a significant asset of individuals and families facing financial hardship following a job loss, major medical expense, divorce, or other occurrence. Tapping a retirement account is an enticing option when faced with not being able to pay bills. This option often only is a short-term fix, and can make things worse if bankruptcy is ultimately filed. Bankruptcy can protect retirement, but cannot un-spend a spent account.
Retirement Funds
Debtors may have rights in several kinds of retirement funds, such as 401(k) plans; individual retirement accounts (IRAs); federal, state or private pensions; and social security.
