Q: my father has CC debt. if he files bankruptcy, can they go after his Investment accounts? one is a IRA and CMA
A: The IRA as a retirement account would be treated as fully exempt in a bankruptcy filing and these funds would remain his. If the Cash Management Account is not part of a retirement account he still may be able to use his federal wild card exemption to exempt some or all depending on the amount of funds in this account. Your father should consult with a CT bankruptcy attorney to review all of his assets and eligibility factors to determine if filing bankruptcy makes sense for him.
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A: The IRA is exempt but the CMA would need to be protected with his wildcard exemption.
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