Lexington Lawyer Protecting Retirement Savings With Bankruptcy

For individuals in retirement, investments and savings accounts such as 401(k)s or IRAs are some of the most important assets, but when a sudden emergency arises in life, people can feel tempted to dip into those accounts to pay for medical bills or other outstanding debt.

At the Law Office of Ginger C. Cord, PSC., I work with clients on an individual basis, helping them save the investments and property they have worked long and hard for while alleviating the burden of debt.

Bankruptcy Protection For Retirement Accounts

Assets in bankruptcy proceedings can be classified as "exempt" or "nonexempt." Exempt assets are not eligible for liquidation to pay off debts. Nonexempt assets are eligible, but rarely come up in the cases I handle. Most assets qualify as exempt.

Typically, retirement accounts are considered exempt property. Because of this, individuals do not always need to dip into retirement accounts to pay off bills that they are struggling with. Filing for bankruptcy can either discharge those debts or restructure them into affordable payment plans without depleting your retirement savings.

The best way to assess whether or not your retirement can be protected through bankruptcy is to work with an experienced lawyer who will take the time to understand your situation.

Contact Lexington, Kentucky, Bankruptcy Attorney Ginger C. Cord Today

Bankruptcy does not have to be the last resort. I will work directly with you to help you get the information and understanding you need to make an educated decision about how to handle your debts.

I can be reached directly, either online or by telephone at 859-963-2073, to help you start on the path to financial freedom.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.