We are barely making ends meet (food, shelter, basics) and wanted to know if we draw out enough to pay for rent this month from our TSP (retirement account) then will this be counted as income in a BK? We are not quite ready to file.
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Filed!!04/23/2008[X] 341 5/27/2008[X]
Converted to asset case 5/26/2008 [X]
DISCHARGE 08/12/2008[X]
Converted to NO Asset case 12/15/2008[X]
Closed 12/16/2008 [X]:yahoo::yahoo::yahoo: -
Any money taken out of a retirement plan is considered income and could take you over the median....be careful and only do so under the advice of an attorney.Chapter 7 Pro Se....Discharged Feb. 2006 -
Is that true for a TSP though as I belive we the TSP you need to pay it back so it is a loan as opposed to income? I did not report my TSP loan on income taxes etc?Chp 7 Filled 2-21-08
341 Hearing 3-24-08Comment
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I know we can only loan TSP if we are active duty...we are not. Yea...I have to find another way or suck it up as income. UUUGGGGFiled!!04/23/2008[X] 341 5/27/2008[X]Converted to asset case 5/26/2008 [X]
DISCHARGE 08/12/2008[X]
Converted to NO Asset case 12/15/2008[X]
Closed 12/16/2008 [X]:yahoo::yahoo::yahoo:Comment
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Thats strange as I am a Government civilian employee and I took a TSP loan out to pay my bills last summer with no problems.Chp 7 Filled 2-21-08
341 Hearing 3-24-08Comment
Comment