Can I put money into a 401K to protect it from Chapter 7?

UPDATED: Aug 27, 2012

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Can I put money into a 401K to protect it from Chapter 7?

I can only protect 20K for my Chapter 7 filing so can I put the maximum allowance into my 401K to protect it from the trustee and creditors?

Asked on August 27, 2012 under Bankruptcy Law, California


Mark J. Markus / Mark J. Markus, Law Offices of

Answered 10 years ago | Contributor

As long as you're not contributing more than is allowed under IRS regulations, that should be fine.

Mark J. Markus, Attorney at Law
Certified Bankruptcy Law Specialist--State Bar of California Board of Legal Specialization
Handling exclusively bankruptcy law cases in California since 1991.
bankruptcy blog:
Follow Me on Twitter:  @bklawr

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