Posted on: 10th Jul, 2012 01:07 am
Hi there… I'm filling out the means test form. I was wondering if social security income should be included as income for bankruptcy purposes. Actually, I want to cover myself and be ready if I should decide to file for bankruptcy.
Hi Barrty,
As far as I know, social security income is exempted in case of bankruptcy filing. So, I don't think you need to include this as your income while filing bankruptcy.
Thanks,
Jerry
As far as I know, social security income is exempted in case of bankruptcy filing. So, I don't think you need to include this as your income while filing bankruptcy.
Thanks,
Jerry
Hello Barrty,
Once you have filed your request, you can ask the Social Security Administration to either condone the overpayment or waive it. If you want the overpayment waived, you must prove that you did not cause the overpayment and that you can't afford to repay the money.
:idea:
Once you have filed your request, you can ask the Social Security Administration to either condone the overpayment or waive it. If you want the overpayment waived, you must prove that you did not cause the overpayment and that you can't afford to repay the money.
:idea:
Social security payments are not included in the calculation of income for purposes of the means test. It is however important not to comingle social security income—so that the social security income is not confused with other types of income that are included.