When you file bankruptcy, you must disclose all assets that you own at the time of the case filing, including but not limited to, a 401k or other retirement account. In almost all cases, 401k accounts are protected provided that the debtor claims the proper exemptions. Therefore, a person can discharge all credit card and other unsecured debt while keeping every penny in his or her retirement.

However, you must leave the money in the retirement account to keep it safe. To see how you could lose your retirement funds read, “Will my 401(k) be Safe if I File for Bankruptcy?”