Tag Archives: retirement accounts
Should you use retirement funds to cover outstanding debts?
Considerable debt presents many struggles that can leave you feeling at a loss. Although a variety of seemingly beneficial debt relief options exist, you may wonder which could work best for you. You may even have concerns regarding the legitimacy of some of those relief options. Because a lack of information may leave you… Read More »
Don’t use your retirement savings to pay off your debts
Are you dealing with financial difficulties right now? Are you buried by credit card or medical debt? Are you behind on your mortgage payments? If you are struggling with debt and trying to decide how to pay it off, the last thing you want to do is pay it off with your savings or… Read More »
Are inherited IRAs protected in bankruptcy?
One of the many benefits of bankruptcy is that individual retirement accounts, better known as IRAs, are protected up to roughly $1.2 million. That means any assets held in IRAs up to that amount would not have to be liquidated in the event of a Chapter 7 bankruptcy. This exemption was put into law… Read More »