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Dear Bankruptcy Adviser, I am retired and am struggling with credit card debt. If I file for bankruptcy, will my 401(k) be seized to pay creditors, or will my 401(k) remain intact? -KarenDear Karen, Yes, your 401(k) is safe in bankruptcy. You can file bankruptcy, not pay one penny on your credit card debt and keep your 401(k). I have filed bankruptcy petitions for clients with less in credit card debt than money in a 401(k) or retirement account. The debt was wiped out completely and the client kept every penny of the 401(k).I am not writing this column to give my opinion on whether this is fair or reasonable. I know some people would be upset to learn that someone can keep all the good and get rid of all the bad. This is one of the only times we do get to behave like corporations. Many people feel this is a morally or ethically corrupt scenario in which we all pay for higher interest rates and credit card fees while this person wipes out all of his or her debt.I am writing this column...
Dear To Her Credit,My 30-year-old former foster daughter is broke and has $6,000 in credit card debt. She is thinking about signing up with one of those rip-off debt...
Dear Debt Adviser,I graduated college two years ago. I have one college loan left. It was originally around $6,000. It is now down to about $3,500. I have been using...
Dear Bankruptcy Adviser, I am 31 years old and have the same name as my father. My father is 70 years old, filed bankruptcy twice and still has multiple past-due acc...
Dear To Her Credit,I am five months behind on a credit card. Would it be better to settle for a specified amount or try to pay monthly to pay off the $4,000 I owe? I...
As young adults struggle to get out from student loan debt, which averages a whopping $26,000 per student, according to The Project on Student Debt, they're shying a...
Dear Bankruptcy Adviser,I filed for Chapter 7. I received a deficiency notice to file a Chapter 7 Individual Debtor's Statement of Intention, but I do not have any s...
That's it, you're done. After struggling to pay your debts, you're ready to consider bankruptcy. It's time to contact a bankruptcy lawyer, but which one? Some adver...
From doling out allowances to teaching their kids how to responsibly spend their money, mothers play an integral role in shaping their children's money habits. These...
For hundreds of thousands of Americans each year, filing for bankruptcy doesn't mean erasing most debts in one fell swoop.Instead, the process can take up to five ye...
If you're someone who runs a balance on your credit card and even maybe pays late sometimes, heads up. Credit card issuers are coming to call, and they're bearing gi...
Federal authorities announced fraud charges against a debt settlement company on Tuesday, in the first criminal case based on work by the new Consumer Financial Prot...
Dear Bankruptcy Adviser, I am trying to file bankruptcy and have talked to a lawyer. Unfortunately, I do not have the money to file without making my financial situa...
Dear Debt Adviser, I graduated college two years ago. I have one college loan left. It was originally around $6,000. It is now down to about $3,500. I have been usin...
Dear Debt Adviser, I am a 71-year-old divorced woman with a lot of debt. I work part time to supplement Social Security. I own a house and a condo. I bought the cond...
Does it seem like you're bringing home less money than you used to? Chances are, you are. With the payroll tax increases that went into effect in January, the payche...
Dear Debt Adviser, I am so glad you recently posted a question about an elderly mother. My mother has dementia. Eight years ago, she opened a credit card for a famil...
Dear Bankruptcy Adviser,I filed Chapter 7 bankruptcy. I was hoping to get a modification from my lender, but they are just stringing me along. Can my wife file Chapt...
They might have an undergraduate degree under their belts, but recent graduates are entering the real world lacking sufficient knowledge and education when it comes ...
Dear Debt Adviser, I have a debt of $50,000 from balance transfers and credit line accounts. If I were to pay just the minimum due every month (which is what I can a...
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