Re: Is a Pension exempt??

Posted by Why Chat (209.240.198.61) on September 10, 2002 at 19:56:40:

In Reply to: Re: Is a Pension exempt?? posted by Ladynred on September 10, 2002 at 19:08:11:

If he is allowed to leave it, let it stay until 60 days after final adjudication.Tell your BK lawyer about it though, because while it is exempt until withdrawn, if any of your creditors find out about it being concealed they may cause problems.The exemptions listed are for procceeds, not untouched pensions.

Don't forget, if you DO withdraw it, and your husband is under 55,in addition to the regular income tax,there is a 10% penalty.

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