Bankruptcy and 40l K
Question Details:
I live in Florida and I am in the process of filing a Chapter 13. Currently I am contributing $250 towards my 401 K. Will I be able continue?
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It depends on your particular bankruptcy court. Most courts allow retirement contributions but may restrict the amount of contributions made during an active 13 plan; a few don't restrict it; and a few still try to not allow retirement contributions at all during an active 13. You need to ask an experienced bankruptcy attorney who practices in the court where your case is being filed. They best be able to advise you as to local custom on this.
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