Skip to main content

I owe a bill to a hospital. They have asked me for my financial status including IRA holding. Do i have to reveal that to them?

Binghamton, NY |

I just want to know if i have to inform them of my wife or my 401k/IRA status. Thanks so much

Attorney Answers 2


  1. You are not required to give them anything unless they sued you and/or get a court order or issue discovery to you. If you are trying to settle the debt they will probably want some proof of your inability to pay the whole thing for them to agree. But - you aren't technically required to do anything unless they sue you.

    I am an attorney licensed to practice law in Ohio and some Federal Courts throughout the United States. I am not answering your question to solicit you as a client and there is a good chance that I am not licensed to practice law in the state that you reside. I hope that you find my assistance beneficial and, at most, use my advise as a finger pointing in the right direction. An attorney client relationship is not established by posting back and forth online. One of the most beneficial aspects of working with an attorney is the attorney client privilege which does not exist when you post personal facts online to faceless strangers. Hire an attorney if you want specific legal advise. If you cannot afford one, call your local bar association or search "(your city) legal aid" online. The fact that you took the time to post your question online likely means that you could use the aid of an attorney. Call around your area and see if any local attorneys offer free consultations.


  2. They can request the information if they obtain a judgment and then file an information subpoena to locate assets. By the way 401 k and IRAs are exempt assets if you file a bankruptcy and you can kept them.

    If this answer is helpful, then please mark the helpful button. If this is the best answer, then please indicate it. Thanks. For further information you should see an attorney and discuss the matter completely. If you are in the New York City area, then you can reach me during normal business hours at 718 329 9500 or www.mynewyorkcitylawyer.com.