How Does Bankruptcy Affect My Retirement?
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Filing for bankruptcy can have a devastating effect on your retirement plans. Bankruptcy can cause massive credit score damage and limit access to certain types of investment accounts, like 401(k)s. It can also restrict you from qualifying for other financial products such as retirement homes and annuities. Knowing how bankruptcy affects your retirement is crucial to maintaining financial stability in the future.
When filing for bankruptcy, the court assigns debtors a trustee who will decide how assets are distributed among creditors. Depending on the circumstances and jurisdiction, some retirement savings may be seized by the courts in order to pay off debts. This could leave you without funds when it comes time to retire, making it difficult to support yourself throughout retirement age.
The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you can find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706
