Can I put money into a 401K to protect it from Chapter 7?
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Can I put money into a 401K to protect it from Chapter 7?
I can only protect 20K for my Chapter 7 filing so can I put the maximum allowance into my 401K to protect it from the trustee and creditors?
Asked on August 27, 2012 under Bankruptcy Law, California
Answers:
Mark J. Markus / Mark J. Markus, Law Offices of
Answered 12 years ago | Contributor
As long as you're not contributing more than is allowed under IRS regulations, that should be fine.
Mark J. Markus, Attorney at Law
Certified Bankruptcy Law Specialist--State Bar of California Board of Legal Specialization
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/
Follow Me on Twitter: @bklawr
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