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High Court Considers Shielding IRAs From Creditors
The U.S. Supreme Court debated Wednesday how much retirement savings people can shield when they file for bankruptcy -- an important question as more Americans go into debt. The justices heard arguments in the case of a bankrupt Arkansas couple seeking to keep their two individual retirement accounts. The stakes in the case are high. Last year, more than 1.6 million people filed for personal bankruptcy -- many of them people 55 and older -- compared with 875,000 a decade earlier.
December 02, 2004 at 12:00 AM
1 minute read
By Hope Yen |
Updated on December 02, 2004
The original version of this story was published on Law.Com
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