minnesotakent
Member
What is the name of your state? Minnesota
I will be filing chapter 7 in a few weeks. I have a 403B that has about $2100 in it. I was told by the investment company that I am not allowed liquidate the account. However, I am allowed to take out a loan using the account as collateral.
I do not want to lose the money that is in the account. If I take out a loan using the account as collateral, would I still lose the funds in the account in the bankrupcy?
I will be filing chapter 7 in a few weeks. I have a 403B that has about $2100 in it. I was told by the investment company that I am not allowed liquidate the account. However, I am allowed to take out a loan using the account as collateral.
I do not want to lose the money that is in the account. If I take out a loan using the account as collateral, would I still lose the funds in the account in the bankrupcy?