Chapter 7 and 13

[kthor]

Poor State of CA or maybe just the people ..

if i declare either a chapter 7 or 13, are my roth IRA protected? can the court tell me to stop making monthly IRA contributions?

Thanks

 

[bigun]

Funds currently in ERISA qualified retirement accounts are exempt from seizure in bk.
In a Chapter 13, trustees may well view voluntary monthly contributions as disposable income that could be used to fund the plan. In a 7, it's doubtful you could schedule it as an expense which, could have the effect of having enough disposable income to fund a Chapter 13.
Most bk lawyers give free or lowcost initial consultations. Speak with a few and get all of your options explained.