I have read about people taking their retirement money out to pay bills and then ending up filing BK anyway. Would you take retirement out or file BK? I think if we take the retirement out, pay a penalty, and taxes, hopefully refinance the house then. we would end up struggling to make ends meet. My spouse wants to do it this way without talking to anyone. Would the credit card companies even talk to us about reducing the total debt if we try to do it this way? I am afraid we'll lose that money and still have to file. And if we struggle to make ends meet after doing that, we won't have any money to pay back the retirement. We are late 40s. Any thoughts?
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If your DTI (debt to income) ratio qualifies for Chp7...........save your retirement pennies and just file BK.
Good Luck!The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation. -
Originally posted by Todd
Thank you.Comment
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