Am I correct to say that an insurance claim is not considered income for the means test?
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In my case it was not. but I believe this is a gray area and can vary from district to district. I have seen that any money is considered income but my lawyer said it does not count. Its funny a loan from my family is not income but a loan from my 401k is income. Don't just assume, ask your lawyer. -
I was told that a 401k loan was not income, but a hardship withdrawal was.Comment
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Don't ya just love what Congress did to the 2005 Bankruptcy Reform Bill!
What may be deemed an expense in my District, Eastern AR, is not considered an expense in the Western District of AR & vica versa.
I would think (omg as my DH says, we are in trouble if Luci starts to think) an insurance claim would Not be considered as Income. But, I think there are so many bankruptcy filings, several sections of the Code, are being pushed aside.
As someone says, It's always best to ask your Attorney
LuciComment
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Not in my case, the 401k loan is being counted as income and we have to wait until July to file because we need the loan to fall off.Comment
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