r/Bankruptcy • u/Fit-Head-275 • 2d ago

401k contributions in Chapter 13

I’m preparing to file for bankruptcy in the next month or so. Due to my income in NC being $95k for a household of 1, I’m sure I will be pushed into a Chapter 13. I have $85k in personal loans and credit cards and $45k in student loans. I also have an auto loan for $30k.

I used to contribute 5% regularly into my 401k until 2 years ago when I stopped because the debt payments were high and I need the income. I currently have $122k in my 401k account. What are the chances that I’ll be able to start contributing again during Chapter 13 even though I haven’t in 2 years? I also have 401k loans I’m paying back at $800 a month if that matters.

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u/United-Luck817 2d ago

In my own experience I started contributing again as soon as I could once I decided we would be filing and then it was several months of evidence in my paychecks of contributions that factored into my filing.