Q: Can the bankruptcy trustee take my social security money to repay creditors as a part of my payment plan?
I filed for Chapter 13 August 31st, and I have a confirmation court date this month. When I filed I wasn't planning on retiring. However, my company just offered an incentive to retire, and I have decided to retire February 1st, 2013 (I'm 66). Subsequently, I filed for my Social Security. I found out that I will be paid benefits from my birthday, July 4th, so it looks like I will get a lump sum payment at some point in the future. Will the back SSA money be at risk of being taken by the Trustee?
A: The drafting of a Plan is generally the Debtor's duty. Though SS is not used as part of the Means Test, it can be used to fund a Plan.
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