Question??

What is the name of your state?What is the name of your state? What is the name of your state? Georgia

I was assured by and a chapter 13 attorney that if I filed Chapter 13 that I will be able to keep my 401k plan. After I signed the petition for Chapter 13, I did see it listed under my Exempt assets. When i meet with the Trustee he says that I will have to stop contributions and then filed a motion to dismiss my case.

Two Question:

1. Are there ruled in place that help debtors from being suckered into filing bankrutcy by attorneys??

2. If I filed for dismissal before the court approves my case will I have to pay these attorneys fees or am I entitled to my money back????

[ShyCat]

I don't understand how you were suckered by your attorney.

Yes, you can keep your 401(k). The money in your 401(k) account is protected from creditors per ERISA. You are not required to liquidate your 401(k) to pay your creditors.

However, it is not unreasonable for the bankruptcy trustee to require you to stop contributing to your 401(k). "Gee, I can only pay my creditors $X per month because I contribute $Z per paycheck to my 401(k)"... doesn't fly.

Yes!! that is what I mean not contributing to the plan. I know that they can't touch it. Thanks for your input.