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Can social security disability income be used in calculating total income for chapter 7 bankruptcy?
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoCurrently Social Security Benefits to include VA Benefits and VA Caregiver Benefits (www.caregiver.va.gov) is not included for the means test. However.........when looking at the total amount of income that is available your Social Security becomes part of the computation.
You will then have to navigate through the bankruptcy court trustee and have a pretty good reason why that money should not be used to pay back your creditors.
Additionally, Federal Law prevents a Veteran's Disability from being garnished except for Child Support and YES the dreaded Tax man.
I am currently facing the possibility of going through the means testing as a Disabled Veteran receiving $1692.00 per month to include my $1700 from my Army Pension, $1750 for VA Caregiver Services and $1700 from my working spouse.
When you add it all up total pay is $6842 and when you subtract the VA Social Security Exemption the new amount is $3,400. Be sure to show that your money is being spent for just that, Caregiver Services and keep good receipts and be prepared to explain this to your lawyer and trustee.
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Can a veteran's disability be garnished for chapter 13 bankruptcy in Georgia?
Chapter 13 (and all) bankruptcy is Federal Filing. And, no, usually Vets benefits are protected under bankruptcy. See an attorney familiar with these matters.
Is your social security retirement income exempt for chapter 7 bankruptcy?
yes
Can my disability lump sum payment be garnished if I filed for bankruptcy 9 years ago?
Congress speciifically excluded Social Security disability benefits from the median income test calculations. This means that your Social Security benefits do not count when calculating your household income for median income/means test purposes. Further, there is a good chance that your on-going Social Security benefits will be considered as an exempt assets, although you should discuss with your lawyer about whether any lump sum owed you for past due benefits is exempt. On the other hand, on-going Social Security benefits are counted when you create your bankruptcy budget (Schedules I and J), so your SSDI benefits may change your disposable income picture. If you are in a Chapter 13 and receive your Social Security disability award, you and your lawyer may need to modify your plan. Your Social Security lawyer may also need to seek Bankruptcy Court approval for his fees. In any case, filing bankruptcy does not cancel or impact your right to receive Social Security benefits. So while your benefit MAY be subject to garnishment...not for anything from your BK...the BK makes no difference now...those debts were discharged.
When in a chapter 13 bankruptcy for more than 4 years and receiving money for a 100 percent disability that happened after filing bankruptcy can bankruptcy take the settlement?
"Bankruptcy" does not take anything. The Chapter 13 Trustee is the one who "takes" anything there is to be taken. And, no, your settlement - if you mean a retroactive check for disability (SSDI) - is not available to the trustee. If you are talking about a settlement of a lawsuit, probably not, unless the cause of action existed at the time you filed the c. 13 and did not exempt any possible award. Talk to your bankruptcy lawyer.
Can you declare bankruptcy you get 579 a month disability plus 62 food stamps you have 4000 credit card debt Cant pay the billss?
You could file bankruptcy, but do you have any assets that a creditor could come after? Your disability payments are exempt from garnishment. The filing fee for a chapter 7 bankruptcy is $209 and the attorney's fees will be $500 at a bare minimum. Bankruptcy is very difficult to do all by yourself.
If you filed chapter 13 bankruptcy and it was discharged can you file chapter 7 bankruptcy now?
Yes.
How long does it take after a bankruptcy is discharged to show on your credit report?
The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.
Can you protect a structured settlement in a chapter 7 bankruptcy?
Yes you can protect it under chapter 7 bankruptcy
What is Bankruptcy Chapter 4?
What qualify u for bankruptcy
Can a lawyer provide you with bankruptcy information?
A lawyer is actually one of the best resources for information about bankruptcy. There are even bankruptcy lawyers who specialize in Chapter 7 and Chapter 13 bankruptcy law.
Where can I go online to find chapter 7 bankruptcy forms?
Chapter 7 Bankruptcy forms can be found on various reliable websites. A few of the sites that has Chapter 7 Bankruptcy forms are: www.uslegalforms.com/bankruptcy/, http://www.freebusinessforms.com/free-bankruptcy-forms.html and http://legal-forms-kit.com/.
Are all debts automatically discharge in chapter 7 bankruptcy for a bankruptcy that occurred in 1988?
If a debt was listed on a Bankruptcy that you filed and the Bankruptcy went through then that debt is permanently discharged with a Chapter 7.
