Legal Question in Credit and Debt Law in Texas

If I get sued, is my 401k protected. I have a collection agency threating to sue me. I am trying to settle for a lower amount and wanted to know what they can or can't do.


Asked on 5/26/10, 11:11 am

1 Answer from Attorneys
Mark Dunn Mark D. Dunn

They can't take your 401k. It's in section 42.0021 of the Texas Property Code.

Be careful "settling for a lower amount." After you've sent in the "lower amount," will they show you as "paid in full" with the credit bureaus?

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Answered on 5/27/10, 11:04 am


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