Learn More About Bankruptcy

Bankruptcy and Retirement Accounts

You Don’t Lose Your Retirement Accounts in Bankruptcy You made responsible choices and contributed to a retirement account, and now that nest egg has grown significantly.  Don’t worry about losing your retirement savings in bankruptcy, because it’s exempt.  Under North Carolina exemptions, all IRS qualified retirement accounts (employer pensions, 401(k)’s, Traditional IRA’s, Roth IRA, etc.) can’t be touched by the bankruptcy court. If you are a state or municipal employee, those retirement benefits are exempt too.  This also applies to

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Bankruptcy And Judgments

Is it too late to file for bankruptcy if a creditor has obtained a judgment against you? For most bankruptcy filers, the answer is “No!” But if you can, don’t wait until a creditor obtains a final judgment. The quicker you act, the better. In North Carolina, if a judgment is obtained against you, it acts as a lien against any real estate you own. This is called a “judgment lien”. This can prevent you from selling your home without

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