Is a Roth IRA plan exempt?

Does any amount you have in an IRA Roth plan have any effect on a Ch. 13 filing? I thought I had around $2,000 in there when I filled out my papers, and turns out there's $3,200. I have the creditors meeting next week and I guess will have to tell the trustee that I actually have $3,200 in there; just hoping it won't cause any more trouble.

Hi,

I am pretty sure your Roth IRA is exempt; the only problem that could arise is if your contributions were recent.

Good luck &
Take care,
bkbiker

Hi,

I am pretty sure your Roth IRA is exempt; the only problem that could arise is if your contributions were recent.

Good luck &
Take care,
bkbiker

that's what I thoght, i'm hoping I don't get into trouble for this. turns out my father put in $500 for me last month.

that's what I thoght, i'm hoping I don't get into trouble for this. turns out my father put in $500 for me last month.


That should be ok if he made the contribution and you didn't. The trustee doesn't like recent retirement contributions from the debtors unless it's mandatory.