Pre-Bankruptcy Do's and Don'ts

Don't Give Your Retirement to Your Creditors

Thu, Nov 3 2011 - 10:17am by

Retirement accounts are often a significant asset of individuals and families facing financial hardship following a job loss, major medical expense, divorce, or other occurrence. Tapping a retirement account is an enticing option when faced with not being able to pay bills. This option often only is a short-term fix, and can make things worse if bankruptcy is ultimately filed. Bankruptcy can protect retirement, but cannot un-spend a spent account.

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