what happens to pensions in a bankruptcy?
Pensions and bankruptcy
posted by Questions @
1 Expert Comment:
At December 8, 2008 |
9:27 am
, Barton Goth, Trustee in Bankruptcy Said...
In most situations a pension is considered exempt. This means that typically a pension is protected and if you file a bankruptcy you will not loose it. Now we do have to verify that the pension is set up properly, which most are, so it is helpful if you bring details about that pension plan in when you first meet with a trustee.
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