When you yourself have filed for bankruptcy, when you can finally just take a laon out from your own 401k retirement fund relies on whether you filed for Chapter 7 or Chapter 13 bankruptcy.
When you have filed for bankruptcy, when you can finally just take away a laon from your own 401k your retirement investment depends upon whether you filed for Chapter 7 or Chapter 13 bankruptcy. Continue reading for more information on whether it is possible to sign up for a 401k loan after bankruptcy.
To learn more about what the results are after bankruptcy, see our Life After Bankruptcy subject area.
Chapter 7 Bankruptcy
In the event that you filed for Chapter 7 bankruptcy, you are able to theoretically sign up for a 401k loan anytime after filing your situation. ERISA qualified plans that are 401k maybe not considered property regarding the bankruptcy property. Which means that the Chapter 7 bankruptcy trustee can’t go after that cash to pay for your financial situation.
Nonetheless, the funds is just safe when it is in your 401k account whenever you filed your situation. (más…)