Does Bankruptcy Affect My Disability Benefits?
Filing for bankruptcy can be a difficult and intimidating process, especially if you are currently receiving disability benefits. When it comes to filing for bankruptcy, one of the most common questions people have is whether or not their disability benefits will be affected. The answer depends on the type of bankruptcy and what income sources are used to repay debt.
Chapter 7 bankruptcies involve liquidation of assets in order to pay off creditors. However, there are certain types of income that cannot be taken away from the debtor in a Chapter 7 bankruptcy including Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI). This means that these disability benefits will remain unchanged after filing for Chapter 7 bankruptcy.
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