My children receive social security benefits. Do I include this as income in my bankruptcy?
If you have children who receive Social Security benefits, it's important to understand how those benefits will be treated in your bankruptcy case. When filing for bankruptcy, all income must be included, and any assets that can be used to pay off your debts must also be disclosed. In some cases, the Social Security benefits paid to your children may count as part of your own income when determining eligibility for Chapter 7 or Chapter 13 bankruptcy.
When filing for bankruptcy, you are required to list all sources of income on the Means Test form. This includes not only wages earned from a job but also government benefits such as Social Security payments received by family members living with you. Although these benefits are intended for the use of minor children, if they are living in your household then they may need to be included in the calculation of your monthly income.
The Law Offices of Omar Zambrano has helped thousands of the people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706