Goldman & Beslow LLC
East Orange: 973-677-9000
Paterson: 973-247-9445
Jersey City: 201-659-6226
Toll Free: 888-827-5493
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Will My IRA Be Safe in a Bankruptcy in New Jersey?

Many people make the mistake of dipping into IRA or 401(k) accounts to pay off excessive credit card debt without realizing that those assets would be safe if they filed bankruptcy. If you have serious debt problems, contact an experienced bankruptcy lawyer for advice before you spend your retirement savings.

At Goldman & Beslow, LLC, our attorneys have more than 40 years of experience helping debtors get a fresh financial start. We are fully familiar with bankruptcy law exemptions that allow you to protect assets such as retirement savings and life insurance policies. We offer a free initial consultation to evaluate your assets to determine which would be protected. We offer services in three convenient New Jersey locations in East Orange, Jersey City and Paterson.

Can Creditors Take My 401(k) or IRA?

When you file bankruptcy, certain assets are protected by bankruptcy law exemptions. This means that the trustee cannot take these assets to pay your creditors. All money in a pension plan or 401(k) plan is protected. The law also protects up to $1 million in an IRA.

Your retirement savings are for your future, and it's not a good idea to use these funds to resolve short-term debt problems. Too often, debtors exhaust their retirement savings to pay bills only to find out that they have to file bankruptcy anyway. By filing bankruptcy, you can get the fresh financial start you need and keep your retirement savings.

Contact Our Jersey City 401(k) and Bankruptcy Attorneys

Let us get you back on your feet so you can get on with your life. Call our experienced Essex County, New Jersey, bankruptcy lawyers today for a free one-half hour consultation at 973-677-9000 or 888-827-5493. Our lawyers serve Essex, Union, Hudson, Passaic, Bergen, Morris, Middlesex, Sussex and other New Jersey communities.


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  • NACBA | National Association of Consumer Bankruptcy Attorneys
  • NACA | National Association of Consumer Advocates
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Goldman & Beslow LLC

Goldman & Beslow, LLC is a Federal Debt Relief Agency by an Act of Congress. We have proudly assisted consumers seeking relief under the U.S. Bankruptcy Code for over 38 years.

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7 Glenwood Avenue,
Suite 311B
East Orange, NJ 07017
East Orange Law Office

Phone: 973-414-8069
Phone: 973-419-7631
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
Fax: 973-675-5886
E-mail the firm

NEWARK OFFICE 168 Bloomfield Avenue
Newark, NJ 07104
Newark Law Office

Phone: 973-483-1333
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

PATERSON OFFICE 100 Hamilton Plaza,
Suite 405
Paterson, NJ 07510
Paterson Law Office

Phone: 973-247-9445
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

JERSEY CITY OFFICE 26 Journal Square,
Suite 603
Jersey City, NJ 07306
Jersey City Law Office

Phone: 201-659-6226
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

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