401k Contributions

[espo1357]

Just wondering those who are in a chapter 13, what percentage are you able to contribute to your 401 k? I have 4 meetings next week with bk attorneys, but from what I've seen so far, you get lots of different answers.

Thanks

Well, my trustee (her assistant) said that I am not allowed to save anything during a chapter 13, but I maxed mine out, and nothing happened (about 2 years into this). This was before I asked. But, now that I know, I am contributing zero.

However, I think its better to NOT put anything in there until after discharge, because: a. its not worth pissing off the trustee
b. the 401k is vastly over-rated for many reasons (stuff happens from now until you hit 59.5, where you may need that money, the manipulation of the stock market, you have no idea what you will pay in taxes when you retire, and the worst is that your are tying up your money, and putting it in the hands of Wall Street crooks).

Good luck.

[salsa]

Just wondering those who are in a chapter 13, what percentage are you able to contribute to your 401 k? I have 4 meetings next week with bk attorneys, but from what I've seen so far, you get lots of different answers.

Thanks