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Philip R. Boardman, Attorney at Law | Phil Boardman
No. ERISA qualified accounts are outside of the reach of creditors - even student loans.
Answer Applies to: Virginia
Replied: 11/16/2011
Heupel Law | Kevin Heupel
No, retirement accounts are protected and cannot be garnished by any creditor.
Answer Applies to: Colorado
Replied: 11/15/2011
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
I think not but I have never looked that up.
Answer Applies to: California
Replied: 11/15/2011
Law Office of Harry L Styron | Harry L Styron
My understanding is that the federal government ceases to attempt to collect student loans over 20 years old, so you should look into this. 401K and IRA plans which are not paying out are exempt from execution for everything except child support. Once they are paying out it they are exempt to the extent the debtor proves that the amounts paid are necessary for the debtor's and debtor's dependents support.
Answer Applies to: California
Replied: 11/14/2011
Charles R. Nettles - Attorney at Law | Charles R. Nettles
No. ERISA qualified plans cannot be reached for payment of debt and a 401k and an IRA both fall into that category.
Answer Applies to: Texas
Replied: 11/14/2011
The Law Offices of Kristy Qiu | Mengjun Qiu
No, those are exempt. But your student loan won't be discharged. If there is any other non exempt fund, they can still come after you for the student loans after bankruptcy discharge
Answer Applies to: Florida
Replied: 11/14/2011
Law Office of Eric Ridley | Eric Ridley
Not under normal circumstances, no. You might also want to look into whether or not the student loan obligation is still valid. Also depending on circumstances, you may have run out the statute of limitations on collecting that debt.
Answer Applies to: California
Replied: 11/14/2011
The White Rose Group | Vincent P. White
Under current laws, your loan may be old enough to be excused under various student loan reform acts.
Answer Applies to: New York
Replied: 11/14/2011
