Are My Retirement Accounts Safe If I File Bankruptcy?

Yes, your retirement accounts are safe, even more so now than ever before. The Arizona  Bankruptcy Code was amended in 2005. Part of those amendments included more protection for retirement accounts. The government is trying to encourage people to save money in their retirement accounts. They want those retirement accounts to be protected from all creditors. So, if you decide to file bankruptcy, all of your retirement money is going to be protected. And, remember, if you’re thinking about taking money out of your retirement account to pay your bills, that is a really good indication that bankruptcy is a good option for you.