Q: (BK 7) Parent helped pay for back mortgage pymnts (3) directly to mortgage company is that an issue.
We meet the means test. Just curious if thats an issue. Payment since then have been current through us.
A:
Expenses paid by others is "income" - but there are four places that income is addressed in a bankruptcy. Bankruptcy is a very complicated process (somewhat like a Rubik's cube - one answer changes others). Please take time to educate yourself about bankruptcy before jumping into the unknown. As part of your education watch the Bankruptcy Court videos (link below) which explain the bankruptcy players and how bankruptcy works. Important - do not assume the information you see on the Internet is accurate or applies in your situation.
Most Arizona consumer bankruptcy attorneys offer a free consultation about the basics of bankruptcy. Please take time to educate yourself and to determine which attorney is the best to assist you in the process. It is best to interview two or three attorneys before making a decision who to hire. Talk to the attorney you will be working with, not a staff person. When interviewing the attorney ask how long they have practiced bankruptcy law. Ask what percentage of their practice is focused on consumer work. Ask whether they are experienced in both chapter 7 and chapter 13 cases. Ask about their policy of returning phone calls. Ask the attorney for references. Don’t assume the attorney is being honest about their experience and capabilities. If, after talking with them you are still confused about the issues you raised, find another attorney. Check them out with the various ranking sources: such as www.AVVO.com, and the State Bar (make sure they do not have complaints), also look at their online reviews.
Any good bankruptcy attorney should be committed to answering specific questions about your situation and help you understand your options. At all times remember this is your bankruptcy and you should understand what is happening. The attorney should educate you, be there to assist you in how to avoid pitfalls and help you plan for your future after bankruptcy. In other words, they should be your guide through this process. There are hundreds of “bankruptcy” attorneys in Arizona. Of those, just a few will fit the criteria set forth above.
https://www.youtube.com/watch?v=jobpaNCY-LU&feature=player_embedded
I hope this information is helpful.
A: You can add it back in as income and see, but very doubtful it changes the means test result.
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