People who are struggling with out-of-control debts need to know an important fact: If you file bankruptcy, most pension, 401(k) accounts and IRAs cannot be taken from you. By law they are exempt, meaning that they are out of the reach of creditors. When you file Chapter 7 or Chapter 13 bankruptcy, most 401(k), IRA and pension accounts cannot be touched by creditors. In addition, many other assets are exempt, meaning they cannot be taken from you. The majority of people who file for bankruptcy can keep all of their property. Before you draw upon your retirement accounts to cover everyday expenses, speak with a bankruptcy attorney at our one of our Cincinnati area locations. We have strategies that can protect your assets while providing relief from unmanageable debts.