We filed chapter 7 and its all over with and we got our discharge papers in June. Now the company that my husband works for is closing down. He will be receiving retirement money from a plan in one large sum within the next 2 months. We did not know this was going to happen, Anyway, I just worried about whether or not we need to go back and tell lawyer or not? Dont want to get into any trouble....
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You shoud be fine since this money is POST discharge, not prior.Originally posted by Nowayout09 View Post
You could also win the lottery today and the creditors from your CH7 wouldn't get a penny..
Filed CH7 9/24/2010, 341 on 10/28/2010, Disch.&Closed: 1/6/2011. FICO EX: 9/2: 672.
FICO EQ: pre-filing: 573, After BK Public Record: 568, 10/3: 673.
FICO TU: pre-filing: 589, After BK Public Record: 563, 9/2: 706. -
You are going to roll the retirement money into a IRA right? Otherwise you will probably owe the IRS. Retirement money is protected in most states until it loses the status of being retirement money.7-2-2009 Filed
8-28-09 341 Concluded, no assets
10-28-09 DISCHARGED/CLOSED!!!!
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I echo whipster1. But I would roll it over into a Roth IRA. Roth IRAs are supposed to be a little bit better than the traditional IRA. I did a google search of 'roth ira and ira' and got several pages of links. Here is one:
PLEASE do something to protect this windfall when it comes. When my FT job ended, the retirement money I had accrued came in a lump sum of a little more than 5K. We SHOULD have rolled into one or the other fund. But 'Hub and I being the "Dumb and Dumber" set that we were, spent it trying to kill our bills and stay afloat. And got slammed with tax penalties--just one of many.
Looking back--we filed BK 12/28/2007 and I lost my FT job 9/30/2007--that 5K would have been a nice little nest egg to put into and IRA or Roth IRA that would be growing now, that I could perhaps draw on when I am 59 and 1/2. I am currently 56, and am not able to find FT employment.....
Please consider wisely....."To go bravely forward is to invite a miracle."
"Worry is the darkroom where negatives are formed."Comment
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Thanks very much for answering my question.Comment
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