CLARIFICATION: If i have a HSA is it treated the same way as an IRA in a BK7 in IL ?

[slvnomore]

If i have a HSA is it treated the same way as an IRA in a BK7?
I have an HSA for 3k in IL, It is an old HSA as my health ins in no longer an HSA and doest qualify for contrubutions. it can only be used for health expenses. would that be excempt like an IRA in a bk7 in IL with no assets?

Thank you for your good advice

[AngelinaCat]

Here is the same question you asked about this, and the responses it generated:

http://www.bkforum.com/showthread.php?78575-Is-a-HSA-%28health-Savings-Account%29-a-protected-asset-like-an-IRA-in-a-BK7-filing

The truth is, we really do not know. Some trustees may go after them, others may not. I provided two links to article talking about such issues. It seems to be up to the various districts and the individual trustees in those districts.

Post #6 from HHM has the opinion that HSAs are NOT considered the same as an IRA, and could be at risk.

If you have not scheduled two or three free or inexpensive consults with BK attorneys, this would be an opportune time to schedule them and ask this specific question.

[slvnomore]

Thank you. i have better information since i asked as it is i IL and I thought that would help. Thanks!

[AngelinaCat]

slvnomore, here is a definitive answer to your question--at least as regards South Carolina:

http://www.bkforum.com/showthread.php?78682-Is-Chapter-13-really-that-bad

See post #6 from katztoo.

[slvnomore]

Thank you so much that is so kind! now we know about NC,, now I just have to find out about IL! ; )

[ld2366eh]

I am in the northern district of Illinois and my hsa was ignored by my attorney. He said they are not looked at by the trustee here.

[slvnomore]

that is good news, so perhaps an HSA is exempt in IL?

[ld2366eh]

I can tell you that it was never brought up at our 341. We were declared a "no asset" case. HSA contributions are clearly identified on our paystubs and we had provided bank statements even though the attorney didn't want them...