“Dear Steve,
f I enter a debt management program will my 401K savings be safe from creditors or anyone forcing me to withdraw any funds to pay on my debts? Do I even have to tell anyone I have a 401K?
Joan”
The Answer:
Dear Joan,
If you click here for credit counseling information and enter a debt management program like this one and can make the monthly payment this credit counseling groups gives you there would be no reason for a creditor to come after you at all.
But even in bankruptcy, a 401(k) retirement account is off limits from creditors.
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.