Legal Question in Bankruptcy in California

my bank account was levied by a debt collector. The funds in my are from my retirement pension and 401k. Are these funds exempt from such levies? Only money from these two sources were in the account.


Asked on 8/24/11, 2:37 pm

1 Answer from Attorneys

David Gibbs The Gibbs Law Firm, APC

The funds were exempt while held in the Pension and 401K. After they were distributed, they take on a new characteristic - cash. As such, they are available to your creditors for attachment. You should file a claim of exemption based on them being pension funds, but you will likely lose. Good luck.

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Answered on 9/09/11, 3:46 pm


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