Have a question about bankruptcy? Use the form below to ask Attorney Palmer.
The question and answer page does not create an attorney client relationship. The answers are intended to be for general Georgia (GA) bankruptcy information and not specific legal advice.
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Q: Would it be better to take money out of my 401k than to file bankruptcy?
A: Karen that will depend on your specific circumstances, but I will say this – your Georgia bankruptcy exemptions will protect all of your money that is in 401k (and most similar) accounts. Therefore, you should think long and hard before taking money necessary for your retirement when the tax penalties are so steep.