Yes
If that's true, in reality it is counted as income that can pay creditors, which can exclude us from Ch 7 if the SSDI is too high. If that's incorrect or only partly true, can you please explain how SSDI is handled? Many thanks.
Social security benefits are not counted against the debtor as income on the Chapter 7 means test. The question for the governmental benefits line item on Form 122 expressly says not to include social security.
On the other hand, if you are asking about Schedule I (the monthly budget done... Read more »
So ssdi is not included the means test but may kick us into chapter 13 if it's considered excess income in the budget section, right?
If you're asking if SSDI is counted as income for purposes of the Current Monthly Income (CMI) number, the answer's no. It's not counted against you as income on the means test.
Not conceived in this county. This is where her mother moved.
You will have to get the Addresses and correspond with them by mail.
most debt is personal debt, do I have to sell trailers and tools to cover my debt?
Your options for personal bankruptcy come in basically two flavors: Chapter 7 liquidation or Chapter 13 repayment plan. If you are eligible for it, most bankruptcy lawyers will try to file you under a Chapter 7 case, unless there is a reason Chapter 7 wouldn't be best for you. So let's look at how... Read more »
Im not certain which chapter I would need to file. Im divorced & have no assets. I have less than $20,000 debt, such as judgements from credit cards and a previous landlord, medical & miscellaneous debt. I’m also making small payments on federal student loan debt and am in good standing where... Read more »
Based on the information you provided you would most likely file a Chapter 7 Bankruptcy. Assuming your last Bankruptcy was a Chapter 7 you would qualify for another Chapter 7 since its been over 8 years. One thing you need to consider is any possible inheritance. If you inherit within 6 months of... Read more »
i filed aug 2019. bank wants full amoint behind before they will reaffirm. bank closed account as soon as bankruptcy filed. I offered them paymemts but they wouldn't accept? what to expect? what do i need to do to keep vehicle?
Well, your other version of this question on Avvo said you are converting your Ch7 to a Ch13. Kurt O'Keefe gave you a very good answer on Avvo about looking into redemption.
I would add to what he said that if you are converting to Ch13, you need to put forth a proposal in your Chapter 13... Read more »
Fines, penalties, and costs that were ordered as part of his criminal sentence would not be dischargeable. However, if this cost is to reimburse the jail for his lodging and food costs while he was there, that could be dischargeable, because it's like rent and an ordinary contract claim. You... Read more »
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What is your question?
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Them, can the trustee take that money if we file chapter 7?
Generally, no. Property of the your bankruptcy estate does not include any power that the debtor (you) may exercise solely for the benefit of [a person] other than [yourself], i.e. your child. See 11 U.S.C. 541(b)(1). Under Michigan law the funds in the UGMA account belong to your children, not... Read more »
I just received a judgement against me for an outstanding auto loan that my ex husband was suppose to take care of per our divorce decree. I financially cannot afford to pay for this with my current car payment and other bills I have. I have been told that I could file bankruptcy for this but my... Read more »
No, when you file bankruptcy you have to list all of your debts. However, the damage to your credit from bankruptcy is only temporary. If you pay your bills on time after you get a bankruptcy discharge, your credit score will probably go back up again relatively quickly, because your debt ratio... Read more »
will the creditors go after the house if he applies by himself alone for the bankruptcy?
Creditors would not be able to go after the house owned by spouses as tenants by the entireties, unless both spouses were liable on the debt. But note, in a bankruptcy it would be the bankruptcy trustee, not creditors, that might do this.
As always, you get what you pay for. Be sure to... Read more »
My wife and I are planning to divorce. The problem is that neither of us can afford to live alone and our debts are so intertwined between us (both names on everything) that splitting it would be impossible. We're considering a bankruptcy to simplify the process. I believe we make too much to... Read more »
Their may be an advantage to filing before a divorce, but your situation is too complicated and/or the facts too sparse for an attorney to advise you in an on-line discussion so I don't want to go into detail. You should consult with an attorney who handles bankruptcies.
In process of filing. The original loan was consolidated with other loans at the same bank. So seeing I'm still filing and its finalized yet, I didnt know if I could just sell the car for whatever amount, seeing i still owe the debt for it and that's what I'm filing on?
Get rid of the car. The title now belongs to the lending company. List the original lender, the seller of the car and the company that all previous liens were consolidated with and BE FREE of this lousy car!
For purposes of the Chapter 7 means test, Social Security benefits are not income. But for purposes of Chapter 13 disposable income, yes, Social Security benefits are counted as income from which your allowable expenses are subtracted to arrive at disposable income in Michigan. In some other... Read more »
Your local bar association or legal aid society.
My house was foreclosed on in 2009. The mortgage was paid off, but there was a small 2nd line attached to the mortgage (that I didn't know about), that wasn't and I was served with papers, fall 2018. Went to pre-trial in Dec, judge told us to work it out (reasonably). The collection company is... Read more »
No one can answer this question for you, or suggest an answer for you, without sitting down with you to talk specifics about all the things you mentioned in your question. You should call a bankruptcy lawyer and ask to set up a consultation.
Yes, there is a way.
First, pull a copy of your credit report. You can get a free copy of your credit reports from the 3 major Credit Reporting Agencies (Experian, Transunion, and Equifax) from the site http://annualcreditreport.com. This will give you an ideas of any debts that are being... Read more »
Im in ohio.
Yes. When you file bankruptcy you are supposed to list all of your debts, regardless of whether you want to “include” them in your bankruptcy or not. Payday loans are usually unsecured loans, and would be able to be discharged along with your other general unsecured debts. You’ll need to file... Read more »
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