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Does long term disability count towards means test as income when filing ch 7 bankruptcy?
Yes it does. Any form of income counts towards calculating your means test.
Social Security incomes do not count as income. I just visited my lawyer today. The only question we had was if my VA Disability would count, because there is nothing in the books that show one way or the other about VA disability. It specifically states that SSDI does not apply or count towards your income with filing Chapter 7/13. Although they are going to check, they are positive that disability income of any sort does not apply towards your income.
IF you are:
- a veteran,
AND
- you are disabled (as defined in 38 U.S.C. §3741(1)),
AND
- your indebtedness occurred primarily during a period in which you were:
- on active duty (as defined in 10 U.S.C. §101(d)(1)), or
- performing a homeland defense activity (as defined in 32 U.S.C. §901(1)),
Title 32. National Guard / Chapter 9. Homeland Defense Activities / § 901. Definitions:
In this chapter: (1) The term "homeland defense activity" means an activity undertaken for the military protection of the territory or domestic population of the United States, or of infrastructure or other assets of the United States determined by the Secretary of Defense as being critical to national security, from a threat or aggression against the United States.
THEN you are exempt from the means test.
What else can I help you with?
What are the main reasons for filing bankruptcy?
The main reasons for filing bankruptcy are overwhelming debt, loss of income, medical expenses, and inability to pay bills.
Can you get a second mortgage after filing bankruptcy?
Yes, as long as the bankruptcy has been discharged, your credit score is 580+, and you earn enough income to support the additional loan.
Can should your spouse get a job after filing bankruptcy chapter 7 but before the meeting of creditors?
You can switch jobs at any time during bankruptcy. The tax returns for the previous year are usually used when figuring income in bankruptcy. It is doubtful the new income would be a factor.
What will happen to your direct deposit while filing bankruptcy?
Direct deposit of any monies while filing for Chapter 7 bankruptcy are safe. However, under Chapter 13 bankruptcy, an automatic payment may be required to the trustee from a direct deposit of wages and other sources of income.
Will IRS still take your income taxes after filing chapter 13 bankruptcy?
If you still owe federal income taxes, they will. But if they don't take it, the chapter 13 trustee gets the tax refund. You should have listed any income taxes that were dischargeable (due more that 3 years prior to the filing date).
Does VA disability compensation count towards means test as income when filing ch 7 bankruptcy?
I filed chap 13 Aug of 08 and they did include my VA disability as income.
Does workers comp income count as income towards the means test when filing bankruptcy?
Yes.
If ss disability payments are exempt from a bankruptcy why would your disposable income change if the only added income was from the ss?
Is VA Disability income exempt from bankruptcy income claim?
Does income count AFTER you file chapter 7?
A person's income does not count after filing chapter 7 bankruptcy. All that counts is what you had before filing bankruptcy.
Can VA disability income be used in calculating income for a bankruptcy filing?
no , because it falls under the federal exempt laws. example income from Social Security Dis. Child support, Rail Road funs etc.
When on disability and listing income for filing bankruptcy do you list the benefits received for your children?
Here is a good rule of thumb--when filing for bankruptcy you list EVERYTHING! And by everything, I mean everything. Courts do not appreciate even unintentional concealments of sources of income. My advice to you is to contact an attorney that specializes in bankruptcy to help you with the application and process. Doing so would answer questions like where to put what and also familiarize yourself with what debts are and are not dischargeable.
What are the main reasons for filing bankruptcy?
The main reasons for filing bankruptcy are overwhelming debt, loss of income, medical expenses, and inability to pay bills.
Do government veterans disability compensation payments for injuries sustained while in the military have to be disclosed when filing bankruptcy?
All sources of income/assets have to be reported. Any disability award is exempted from creditors execution. Howevcr, disability, pension, SSI, SSD, income, etc. must be on the exemption schedule to insure there will not be any confusion on not being attached by the creditor(s).
Do social security disability income count towards ObamaCare?
Its so hard to get this question answered. Does Disability from Social Security count towards earned income or unearned income when trying to figure out how much credit we would get towards the Obamacare health plan
If you declare bankruptcy would your disability allowance be used as income or disregarded?
It is income. ALL income is income in a bankruptcy, no matter the source. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
What if your income increases after filing a chapter 13 bankruptcy?
Chapter 13 is more of a repayment plan than a debt wipeout. Because of that, if there is a change in your financial circumstances after filing for bankruptcy then the court needs to be aware of it.
Does income property count as income when filing a claim on disability insurance?
Income from rental properties typically does not count as earned income when filing a claim on disability insurance. Disability insurance usually considers earned income from employment, such as wages or salaries, rather than passive income sources like rental income. However, specific policies may have different definitions of income, so it's essential to review the terms of your particular policy or consult with an insurance professional for clarity.
