Q: Do I put the amount that shows in my 401K or the amount I am able to withdraw on Schedule A/B?
A: All assets have to be listed at full value regardless of your intention to deal with it. Most likely it can be exempted, that is not included in the bankruptcy process, but the answer can only be determined by a thorough review of all assets, liabilities and cash flow. If you have a substantial asset to protect, you should consult an experienced bankruptcy lawyer. Good Luck.
A: The full amount. It is exempt but you still must list all your assets.
A: The other attorney answered accurately. I just want to add that to file a bankruptcy petition without experienced bankruptcy counsel is a terrible idea. Its like working on the transmission for your car without an mechanical know-how. In fact, both services are approximately the same price. So to save the price of a transmission, you can cause yourself a whole world of trouble. If you have to ask about as simple a matter as how to list a retirement plan on schedules, you are entirely ill-equipped to file your own bankruptcy. You will get what you pay for and maybe worse. Be smart. Hire an experienced bankruptcy attorney with a focus on bankruptcy. Otherwise I predict lots of regrets. Good luck.
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