What Happens to Bank Accounts, Pensions, and Retirement Funds in Bankruptcy?

Will I Lose My Checking or Savings Account if I File Bankruptcy?

Whether you can keep your savings, checking, or other bank accounts in bankruptcy will depend on whether you can cover the balance with a bankruptcy exemption. If not, you'll likely lose it. Learn why.

Can You Keep Your Retirement Accounts in Bankruptcy?

Under most circumstances, you can keep your retirement accounts, such as 401ks and IRAs, if you file for Chapter 7 bankruptcy. However, for some accounts, the protected amount may be capped.

401k Retirement Accounts and Bankruptcy

For the most part, your 401(k) and other qualified retirement accounts (such as 403(b)s, profit-sharing and money purchase plans, IRAs, and defined-benefit plans) are safe in bankruptcy. Learn more.

Is Social Security Safe in Chapter 7 Bankruptcy?

Social Security benefits are protected in Chapter 7 bankruptcy, but you might run into trouble if you have commingled (mixed) the funds with non-Social Security money in an account.

Is Your Pension and 401(k) Exempt in Bankruptcy?

If you have a pension or other retirement plan and you file for Chapter 7 bankruptcy, you can probably exempt at least some of your pension and protect it from the bankruptcy trustee.

The New Bankruptcy: Will It Work for You?

Is bankruptcy the right solution for your overwhelming debts? Pick the best strategies for your situation with the information and practical suggestions in this book by best-selling author Stephen Elias.

How to File for Chapter 7 Bankruptcy

The reliable, up-to-date information in this best-selling book will help you successfully complete your bankruptcy claim without breaking the bank.

Chapter 13 Bankruptcy: Keep Your Property & Repay Debts Over Time

This comprehensive guide explains the Chapter 13 process, from start to finish.