Will My Retirement Account Be Taken?

Will My Retirement Account Be Taken in Bankruptcy?

Are you swimming in debt? Do you believe that Chapter 7 is the right option for you? Are you worried that you will not qualify? Before you despair, talk to an experienced bankruptcy attorney. Our attorneys will help to analyze your debt and guide you through your options.

Our attorneys at Atlas Consumer Law provide our clients with experienced, knowledgeable legal advice. We are aggressive in pursuing the kinds of resolutions you need and are dedicated to alleviating our clients of burdensome debt. Let us use the law for your benefit. We are located in Lombard, Illinois, and serve a broad range of clients in Chicago and the surrounding areas.

Contact a bankruptcy attorney to discuss how your assets will be handled in a Chapter 7, Chapter 13 or Chapter 20 bankruptcy. Call us at (312) 313-1613.

What Happens to My Retirement Accounts?

One of the main concerns that older individuals have when faced with bankruptcy is what will happen to my retirement accounts if I become bankrupt? We are pleased to tell you that your retirement accounts are protected in the event that you file for bankruptcy.

My Income Is Too High for Chapter 7 Bankruptcy

To qualify for bankruptcy, you need to have a low enough disposable monthly income. In some cases, individuals might have difficulty qualifying for a Chapter 7 bankruptcy, which may be more advantageous because it offers a chance to wipe away debt. It is important to understand that money that is put into your retirement count is not considered when determining eligibility for Chapter 7 bankruptcy. In addition, putting more money in your retirement account is beneficial because it allows for a more secure future.

The means test is generally used to determine if an individual qualifies for Chapter 7 bankruptcy. However, it is important to note that in some cases you do not have to qualify. In some cases. you may make a very high salary and may still qualify for Chapter 7 bankruptcy. To learn more about how this is possible, you need to speak with one of our experienced attorneys.

If you are interested in filing for bankruptcy as a solution to your mounting debt, it is important that you speak with an experienced and knowledgeable Chicago bankruptcy lawyer.

We will guide you through the process, helping you every step of the way. Contact us online or by calling us at (312) 313-1613.

Hear From Our Satisfied Clients

Reviews & Testimonials

At Atlas Consumer Law, your satisfaction is our priority! See for yourself what our clients have to say about working with us.

"I was so stressed out, found Atlas Consumer Law & gave them a call!"
I had absolutely NO exceptions going forward with my lawsuit against a company that harassed me for payment! I was at the ...

- Pam S.
"So Helpful & Responsive!"
Everyone at Atlas was so willing to help and so responsive. I'm so grateful for the work they put in on my case! Would highly ...

- Stephanie M.
"Results Fast!"
THEY GOT RESULTS FAST FAST FAST!!!

- Jake B.
"Can Do Attitude All the Way!"
Atlas consumer Law is amazing and they have the CAN DO attitude and will do anything to get the job done.. I highly recommend ...

- Donnie P.
"Thank you for educating me about my rights as a consumer!"
The Atlas Consumer Law Group is Awesome. They promptly took care of my issue with a creditor who tried to ignore my rights as ...

- Belinda W.
"Absolutely Amazing!"
I am absolutely AMAZED at this law group! I started a case in March and got it solved in early May! The debt collector was ...

- Aline G.
"Atlas Consumer Law Goes Above & Beyond!"
Atlas helped us within 6 months more or less and they were an awesome team. I would definitely recommend Atlas Consumer Law ...

- Llyod G.
"Atlas Consumer Law is on Your Side!"
When you need the law on you side call Atlas!

- Arlene B.

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Talk to the leading law firm in the country about your rights for free! Fill out the form below or give us a call at (312) 313-1613 and we would be happy to give you the answers you need to make informed decisions for yourself and your family.

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