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Posts tagged "401(k) plans"

In debt? Don't empty your 401(k) before considering bankruptcy

If a job loss, medical bills or unexpected expenses have got your scrambling to pay your bills, you may have wondered whether it’s a good idea to liquidate your 401(k) account in order to pay them off. Before you take that step, which can subject you to substantial taxes and fees and throw your retirement plans into disarray, you should know that 401(k) accounts are exempt from collections if you file personal bankruptcy.

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