Please Don't Draw Down Your TSP to Pay Your Credit Cards

Federal employees living in Stafford County have been hit hard this year. DOGE, RIFs, and now the shut down. And shutdown RIFs. With what's going on, you may have lost income for a long time.

As you are deciding how to cope, let me share a tip as a bankruptcy lawyer. If you file bankrutpcy, they can't touch your TSP. (Unless there's back taxes, or unpaid support.) If you are tempted to draw down your TSP to clear your debts, or just keep them current, please talk to a bankruptcy lawyer, first.

Now most people don't call a bankruptcy lawyer at the first sign of trouble. But consider the example of Donald Trump. He says he's used what he calls The Chapter "three, maybe four times; came out great." Not something to brag about for most people, but he says, like on the Apprentice, "it's just business."

So, before you drain out your TSP, consider how brilliantly using "the laws of this country" worked out for Donald Trump.