court has ordered to turn over the funds from 401(k) to trustee. I have not signed the doc to turnover. what can i do to stop it to turnover?
I am guessing from your question that you have filed a pro se chapter 7. If you have filed your chapter 7 bankruptcy pro se and the court has ordered that you turn over funds from a 401(k), then then you need to use this weekend to search for several experienced bankruptcy attorneys that handle litigation in chapter 7 cases and call those attorneys first thing Monday morning.
There are numerous defenses to an action filed by the trustee to acquire a debtor's 401(k). An experienced attorney should be able to raise those defenses for you after a thorough review of the facts in your case provided you have not waived some right to a defense by your actions prior to this point.
The specific answer to your question is to file a motion to reconsider the order of the court and the time limit is normally 14 days from the date the order was entered. Under federal and bankruptcy rules, there are certain things that you must allege and prove to prevail on a motion to reconsider. The chances that you can figure out all of that is slim if you do not know what to file.
If a motion to reconsider has been filed and the court has denied the motion, then then only other step would be to file an appeal. However, if procedural errors were made by you during the process or if you failed to raise proper defenses to the trustee's action, then it may be too later to raise those claims and/or defenses on appeal.
I have heard clients in my office that have lost assets because they tried to handle their case without an attorney say that they could not afford an attorney. As it turned out, they could not afford to handle the case themselves as they lost far more $$ than an attorney would have charged them.
You can start your search using the Avvo "Find a Lawyer" link at the top of this page. You can also go to the National Association of Consumer Bankruptcy Attorneys website, which is: http://nacba.org
Answers and comments provided are for general discussion only. My comments are not to be considered legal advice and they do not create an attorney-client relationship.
401k funds are exempt under IL law. The trustee should not be able to obtain these funds. You should speak with your lawyer or hire one ASAP.
This answer posted on Avvo is for informational and educational purposes only and does not constitute legal advice. No attorney-client relationship has been formed based on this answer. It is always advisable to seek the advice of an attorney in your area as soon as possible to determine your legal options and rights.
Something is odd here. 401(k)s have an exalted "excepted" protection status. Get a lawyer. And by the way get a lawyer. There are motions for reconsideration there are appeals.
T protection status. Get a lawyer. And by the way get a lawyer. There are motions for reconsideration there are appealss.
By any chance does this have to do with divorce? What was the f491k nonconforming?
I echo what Mr. Gambrell advised. I completely agree that you must search for a very experienced bankruptcy responsive immediately. Those funds should have been protected. I'm thinking that the trustee believes you have been taking to large a percentage from your pay check towards the 401k. You need a very good lawyer. Ideally, you should find someone who has worked with and has a good relationship with this trustee. The lawyer you choose should also be a bankruptcy litigator who is up on the current bankruptcy laws. Click "Find A Lawyer." Best of luck, Barbie D. Lieber
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You should have opposed the trustees motion to turn over funds. If you did oppose the motion and lost, you can file a motion to reconsider, but more likely, your only recourse is an appeal. I am guessing you probably did something like make a large deposit to your 401k prior to filing or some type of illicit transfer, otherwise, 401k funds are normally exempt. If you want any hope of salvaging your case, you will be calling attorneys on Monday and be prepared with a $2000 - $3000 reatianer.
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