We hear this all the time, “well maybe I could cash in my retirement to pay off these debts.” This is not in your best interest. You will need these funds inthe future for your retirement and the penalties of withdrawing early are extreme. These funds will most likely be protected in the bankruptcy. So, no this is not a good idea to cash in any retirement accounts to pay off debts.
Bankruptcy could provide the relief you are looking for. Contact our office today for your free consultation. We offer expert advise, fair fees and monthly payment plans.