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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.
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.
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.
Does workers comp income count as income towards the means test when filing bankruptcy?
Yes.
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.
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).
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.
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.
Do I have to pay taxes on a disability benefit?
You can get the answers at 4socialsecuritydisability.com. Their answer is that your disability benefits might be taxable IF you, or you and your spouse if filing jointly, have enough income to require paying taxes.
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.
