Legal Question in Bankruptcy in Texas

Retirement Assets

Under Chapter 7 bankruptcy filing, is my retirement account considered an asset? If it is considered an asset, can it be attached by my creditors?


Asked on 7/18/99, 4:48 pm

1 Answer from Attorneys
Susan Freiman The Legal Clinic

Re: Retirement Assets

It may depend on the terms of the retirement account - what kind of account, how much your rights are worth, under what circumstances you can get to the assets, when you deposited money to the account. There are, however, a lot of different laws that must be looked at, as well as the total picture of your bankruptcy. You will have to ask a lawyer for the answer to your particular case. If you can't afford a lawyer, check with your local bar association - many bar associations have panelsd of lawyers willing to help for reduced fees.

Good luck!

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Answered on 7/24/99, 4:51 am


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