A 32-year-old single mother of two filed for chapter 7 bankruptcy in Kansas and lost her $900 monthly lifetime annuity payment. This week she lost her attempt to protect the annuity from her creditors and the bankruptcy trustee. The chapter 7 bankruptcy trustee likely will sell the future stream of annuity payments for a lump [...]
annuity
The answer in almost every case is No! To start, in Chapter 13, assets are never taken and liquidated. Instead, most Chapter 13 Plans are funded from earnings, and your retirement plan would be used to fund the same only if you so voluntarily chose. In Chapter 7, retirement accounts are likewise generally never taken [...]
