Will a insurance check to cover damages from IKE be figured into my income? If so I can have my dad cash the check and hand over the money but I would rather not. The check is going to be about 20k but it will take every penny to put my house back together.
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I do not see how this should be figured into income. (note, I am not an attorney).
This claim is for insurance you have on property (your home) which is part of your bk estate. The proceeds will be used to put your home back in the condition it was in when you filed. (I'm sure the check will be made out to you AND your mortgage company). The mortgage company will more than likely follow through to ensure the money is spent on the repairs. As you will not benefit monitarily from this, I don't see how it could be considered "income".
But ask your attorney about this, for sure.You can't have your cake and eat it too. But you can dip your finger in the bowl and lick the icing
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Originally posted by krielly View PostIf I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.Comment
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I've seen pictures of the devasted areas
, doesn't look good.
Good Luck Morally, always doublecheck with your lawyer on advice, but I agree that the insurance payment shouldn't count as income
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May 31st, 2007: Petition Filed by my lawyer
July 2nd, 2007: 341 Meeting Held
September 4th, 2007: Discharged and Closed.Comment
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