Will my pension be affected if I file bankruptcy? 18 Answers as of May 30, 2013

I am under social security and I am also receiving monthly pension. I filed bankruptcy a month ago. What will happen to my pension?

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Mercado & Hartung, PLLC
Mercado & Hartung, PLLC | Christopher J. Mercado
Your pension will likely be exempt under your state statute. Contact a local attorney for specifics.
Answer Applies to: Washington
Replied: 3/26/2012
Debt Relief Law Center | Roger J. Bus
You can exempt your pension, no effect on a Chapter 7.
Answer Applies to: Michigan
Replied: 3/26/2012
Bankruptcy Law office of Bill Rubendall
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
Your pension is 100% exempt when filing bankruptcy.
Answer Applies to: California
Replied: 3/26/2012
Law Office of Jeffrey Solomon
Law Office of Jeffrey Solomon | Jeffrey Solomon
Nothing. The pension and social security cannot be touched by creditors.
Answer Applies to: Florida
Replied: 3/23/2012
The Barger Law Firm
The Barger Law Firm | Jason W. Barger
You will continue to receive it as you were before filing bankruptcy, it will not be affected by your filing.
Answer Applies to: Texas
Replied: 3/23/2012
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    Nothing will happen to it. You will keep receiving it. I am assuming your means test was done properly.
    Answer Applies to: California
    Replied: 3/23/2012
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    Nothing will happen to it unless it is not exempt for any reason.
    Answer Applies to: New York
    Replied: 3/22/2012
    Kenneth A. Parker, P.C.
    Kenneth A. Parker, P.C. | Ken Parker
    In most cases you can keep your pension. When you file, you are entitled to Exemptions. Exemptions allow you to keep certain property (Both real and personal) and protect that property from your creditors. Contact a bankruptcy attorney to get the full details.
    Answer Applies to: Georgia
    Replied: 3/22/2012
    T.K. Byrne | Timothy K. Byrne
    In Mississippi pensions are exempt. However, non governmental job contributions prior to filing bankruptcy are reviewed by case trustees.
    Answer Applies to: Mississippi
    Replied: 3/22/2012
    Heupel Law
    Heupel Law | Kevin Heupel
    No, pensions and social security are protected assets when you file bankruptcy. That means you can get out of the debt and still keep your retirement.
    Answer Applies to: Colorado
    Replied: 3/22/2012
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    It a little late to ask after filing but it depends on the nature of the pension, the amount, the state where you live and what exemptions are available to protect it form the trustee.
    Answer Applies to: California
    Replied: 3/22/2012
    Ferguson & Ferguson
    Ferguson & Ferguson | Jackie Ferguson Graham
    Nothing will happen to your pension.
    Answer Applies to: Alabama
    Replied: 3/22/2012
    Diefer Law Group, P.C.
    Diefer Law Group, P.C. | Abel Fernandez
    Your pension should be fine, although I think it would have been a good idea to make sure of that before you filed.
    Answer Applies to: California
    Replied: 3/22/2012
    Weber Law Firm, P.C.
    Weber Law Firm, P.C. | William Weber
    No.
    Answer Applies to: Texas
    Replied: 5/30/2013
    Bird & VanDyke, Inc.
    Bird & VanDyke, Inc. | David VanDyke
    Pensions are qualified retirements and are exempt under California law. This means that your pension is safe.
    Answer Applies to: California
    Replied: 3/22/2012
    Ryan Legal Services, Inc.
    Ryan Legal Services, Inc. | Kevin Ryan
    Do not touch the pension. It is exempt under Ohio law AND completely excluded from the bankruptcy estate under federal law. If you take money out of the pension account pre-bankruptcy (such as a 401k withdrawal), this can complicate matters for you.
    Answer Applies to: Ohio
    Replied: 3/22/2012
    Dan Shay Law
    Dan Shay Law | Daniel Shay
    The BK will not affect your pension.
    Answer Applies to: California
    Replied: 3/22/2012
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