Debt Relief

Property & Assets

Bankruptcy FAQ

Protecting Retirement Assets In Bankruptcy

In this day and age, having a retirement nest egg is a necessity. Unfortunately, many people cash in their retirement accounts and pension plans in an attempt to catch up on bills and pay off debts. However, even after exhausting their retirement savings, most people are still in a financial position where filing for bankruptcy is necessary. Through bankruptcy, you can keep your retirement accounts and eliminate your debts.

Located in Alexandria, the McBride Law Firm helps individuals throughout central Louisiana discharge their debts without forfeiting their retirements.

After cashing in retirement accounts, many people still have large amounts of debt and are left without the safety net of retirement savings. Don’t liquidate your retirement accounts until you speak with an experienced bankruptcy lawyer..

Keep Your Retirement Savings, Protect Your Pension Plan

Under federal and state bankruptcy laws, qualified retirement plans are considered “exempt assets.” This means they are safeguarded during the bankruptcy process and kept out of the reach of your creditors. Qualified retirement accounts include:

  • Government employee retirement plans
  • State pension plans
  • 401(k)s
  • Individual Retirement Accounts (IRAs)
  • Roth IRAs
  • Simplified Employee Plans (SEPs)
  • Savings Incentive Match Plan for Employees (SIMPLE)
  • Certain deferred compensation plans
  • Certain tax deferred annuity plans

Many people start college savings accounts for their children or grandchildren. Under federal bankruptcy laws, certain education savings accounts – including Education Savings Accounts and state-sponsored Section 529 college savings programs – are also protected..

Serving The Local Community For More Than 30 Years

At the McBride Law Firm, we provide honest, effective, local legal representation. Attorney Tom McBride was born and raised in the area, and many of our attorneys live in the local community.

Unlike larger law firms, every client who turns to the McBride Law Firm has an experienced attorney working on his or her case. Each of our lawyers is a seasoned bankruptcy professional. We have an in-depth understanding of the bankruptcy system and know how to navigate our clients through the process as efficiently as possible.

Take Back Control – Today

If you are overwhelmed by debt, each day can feel like a struggle. Don’t wait another day. Contact the McBride Law Firm at 318-445-8066 to eliminate your debts and protect your retirement accounts through bankruptcy. We offer free same-day or next-day appointments.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.