Not only can you save your retirement in bankruptcy – sometimes it’s the only way to save your retirement!

I can’t tell you how many people have come into my office who already ran out of retirement money. They used it to pay off their debts, not knowing they had other options. It breaks my heart: In one short conversation, I could have saved some of them from losing their 6-figure retirement funds.

The vast majority of Americans expect to depend solely on their retirement savings after they leave work, rather than depending on government assistance or family members.

So it’s crucial you know that you DON’T need to spend your retirement money to pay your bills.

There’s one basic bankruptcy rule for retirement accounts: You can exempt ERISA-qualified retirement funds in bankruptcy. That includes most pension plans and IRAs. Not all will be included in this rule, but most.

In addition, bankruptcy allows you to get rid of your debts, which frees up your finances down the road so you can have a happy and secure retirement. A bankruptcy law firm Memphis, TN trusts, like the team at Darrell Castle & Associates, can help manage the best timing for your case.

If you’re in so much debt that you may lose your retirement, please come talk to me first. The conversation is quick and completely free.