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Ohio
My sister filed Ch 7 in June and is about to get laid off from her
employer...if she doesn't roll over her 401(k) will the government
take to pay her bills?
P.S. She doesn't need to take constructive recepit of the money for any reason. Leave it where it is as long as possible and then roll it over into her new plan or IRA, etc. No way should she just cash it out.
Rolling it over was my advice also but she took a loan out against it in 1999 and is still paying it back, if she loses her job in order to roll it over she would have to make up the missing money and she isn't in a financial position to do that; she will have to take the money. Will the government take it to pay what they paid off for her?
Thanks for your advice.
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