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Law Office of Paul R. Idlas
Bankruptcy Attorney For Lake County, Illinois, And The Surrounding Area

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What happens to my pension or 401(k) after I file for bankruptcy?

Perhaps you have worked hard for many years. You have accrued a nice sum in your pension or 401(k) account that should see you through retirement, which is still a few years off. So, it is natural to worry about what happens to these funds if you file for bankruptcy.

Signs That You Should Consider Bankruptcy

Question: I have never been someone who spends a lot of money. Luxury items are just not on my list. About three years ago, I got a new job that seemed very promising and stable. Finally, we had enough cash to get some new items around the house that we had needed.

Bankruptcy: can you keep your house?

Declaring bankruptcy sounds scary, and many people worry that they will lose everything if they do. However, bankruptcy was designed to help you. The government wants to pull you out of financial trouble and help you make a fresh start. Therefore, they allow you to keep a number of items that are considered necessities. At the same time, extravagant items may be taken away or simplified. So what does that mean for your current house?

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