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Nassar Law blog


If I file for bankruptcy, can I keep my pension, IRA or retirement accounts?
30 January 2013

In general, most retirement accounts are considered exempt property under California law (California Code of Civil Procedure §§ 704 and 703.140). This means that the retirement account is protected under the law and the trustee cannot take any money from the account in order to pay your creditors. Generally, retirement accounts that are subject to […]

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Is my monthly social security disbursement considered “income” when filing for Chapter 7 bankruptcy?
23 January 2013

When filing for Chapter 7 bankruptcy, debtors must complete a means test to determine whether they qualify for this type of bankruptcy. The test generally determines whether the debtor has enough income to pay back their creditors. Case law has determined that Social Security income is not considered income for the purposes of the means […]

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