• Will I have to give up all my assets?
  
• Do I have to list all my debts?
  
• Will I lose my house even if I'm current?
  
• Will the trustee come to my house?
  
• Does my spouse have to file bankruptcy with me?
  
• Will bankruptcy stop wage garnishments?
  
• Are there debts that I cannot discharge?
  
• Is the IRS affected by my bankruptcy filing?
  
• Can I keep my car?
  
• Will I be allowed to file bankruptcy?
  
• How do I know which chapter to file?
  
• Can I discharge my student loans?
  
• What do I have to do to file bankruptcy?
  
• Can I put my assets in someone else's name before filing?
  
• Will I lose my retirement savings?
  
• Can I get credit after bankruptcy?
  
• What if I can't make the payments on my Chapter 13 plan?
  
• Does a previous bankruptcy prevent me from filing?
  
• Are there tax consequences to filing bankruptcy?
  
• Can I file bankruptcy without a lawyer?

Will I lose my retirement savings?

No, most forms of retirement savings are unaffected by a bankruptcy filing,  either because they are not property of the estate or because they may be claimed exempt from the claims of creditors.  The 2005 amendments to the Bankruptcy Code expanded the protection for retirement assets.

ERISA plans excluded from estate

The Supreme Court has held that an employee's interest in pension plans that are qualified under ERISA (the federal law on pensions) are not property of the estate:  the debtor doesn't even have to exempt them in bankruptcy.  If an assets is not property of the estate, the trustee can't cash it in for the benefit of creditors. 

Exemptions protect retirement savings that
are property of estate

Retirement savings that are property of the estate, such as some Keogh plans and IRAs, can be claimed as exempt up to a million dollars.