My clients are always concerned whether they will lose their retirement plan in bankruptcy. Over the past 15 years, I have only had one client with this problem, and she settled with the trustee, thus keeping 90% of her plan. Notwithstanding, that case was prior to 2005. The new bankruptcy laws in 2005 would have protected her since most retirement plans under those laws are now untouchable up to $1,095,000 per person. Stay tuned, more on this blog to be published soon.
Written by Michael G. Doan- Owner of the Carlsbad Bankruptcy Attorney‘s office, Michael not only manages his business, but is also a highly skilled Bankruptcy Attorney with over 17 years of experience. He specializes in many fields, such as: insolvency, bankruptcy, consumer rights, debt negotiation, creditor collection abuse, estate planning, contracts, real estate, and tax. Michael is currently concentrating his practice solely in Bankruptcy Law and is a Board Certified Specialist in Consumer Bankruptcy Law by the American Board of Certification, one of only fourteen such attorneys in all of California.
Did you file for Bankruptcy and now you need help with your retirement plan? Look no further and call a San Diego Bankruptcy Attorney today to help you through this process.