Category Archives: Bankruptcy and Retirement

Missouri Bankruptcy Filing Tip Help: Should I pay off debt with retirement funds?

It is usually not advisable to withdraw or take out a loan against a 401K,IRA or other qualified retirement account to pay off or consolidate debt. Under Missouri and Kansas law, an individual’s interest in their retirement plan such as a 401(k), IRA, or other similar tax-deferred retirement plan is typically protected from creditors in…

What should you do with your retirement plan before Missouri bankruptcy?

I often get this question, as do most Missouri bankruptcy attorneys, “How does bankruptcy effect my retirement?” I’ve heard this question from my clients because they are concerned about the possibility of bankruptcy depleting their retirement accounts. I’ve also been asked this question by several financial planners because they are interested on how to advise…