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Back collection of money Georgia

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  • Back collection of money Georgia

    I filed for bankruptcy in Nov of 09 in GA. I have a 401k and currently looking for a new job.
    If I get a new job, I could take the all or part of the money out. How long of a time period do the trustee or collectors have to go after any additional money?

  • #2
    Just to verify, was this a Chapter 7 bankruptcy? Thanks.
    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

    Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

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    • #3
      Did you disclose this money to the trustee? If so, I believe it should have been intercepted by the trustee at that time (I could be mistaken), however if it was disclosed and not taken at that time, you should have nothing to be worried about.

      Seems as if you are trying to pull a fast one on the US Bankruptcy Court.
      Not everything in America is actionable in a court of law. Please remember that attorneys are in business for profit, and they get paid regardless of whether or not you win or lose.

      I offer my knowledge and experience at no charge, I admit that I am NOT infallible, I am wrong sometimes, hopefully another responder will correct me if that is the case with the answer above, regardless, it is your responsibility to verify any and all information provided.

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      • #4
        A 401k is an exempt asset in a bankruptcy in most states including Georgia. They are set up so as not to be part of the bankruptcy estate.

        However; if you have a bk attorney, you might run it by them before taking out any money but per my references you should be ok.
        Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

        Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

        Comment


        • #5
          Originally posted by Betty3 View Post
          A 401k is an exempt asset in a bankruptcy in most states including Georgia. They are set up so as not to be part of the bankruptcy estate.

          However; if you have a bk attorney, you might run it by them before taking out any money but per my references you should be ok.
          Nice. I did not know that. Thank you Betty!
          Not everything in America is actionable in a court of law. Please remember that attorneys are in business for profit, and they get paid regardless of whether or not you win or lose.

          I offer my knowledge and experience at no charge, I admit that I am NOT infallible, I am wrong sometimes, hopefully another responder will correct me if that is the case with the answer above, regardless, it is your responsibility to verify any and all information provided.

          Comment


          • #6
            You're welcome.
            Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

            Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

            Comment

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