Retirement

What happens to my 401k when I file Chapter 7 Bankruptcy?

What happens to my 401k when I file Chapter 7 Bankruptcy?

“f you are filing for Chapter 7 bankruptcy, you may be wondering how to protect your 401(k) savings. In general, 401(k) accounts are protected in bankruptcy proceedings, which means that creditors cannot seize these funds to pay off your debts. However, there are some important factors to consider to ensure that your 401(k) savings are fully protected.”