Sorry folks but I am lost at this one! I already paid a retainer fee and hired an attorney for my wife and I. He had told us that unfortunately my wife's SSDI is counted on the Means test for a Chapter 7 bankruptcy. Is this true??? Some people tell me it shouldnt and what I am reading on the internet is that any form of Social Security Income is not included on the test! If it has to be counted then we may not qualify for a chapter 7 here in Arizona. My annual income is about $52000 and her SSDI is around $22000 a year and we have a family of 4. Any information is greatly appreciated!
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Social Security, for the purposes of means testing IS NOT included as income if received by the debtors(s) or, as I read 11 USC 101 (10A)(B), any dependant. So long as your wife is either filing with you or is a “dependant” it is not included on Form 22. However, Social Security IS included on Schedule I (your real monthly income) and, if your real income minus your basic living expenses do no not leave you close to or in the negative each month you could have a problem.
So, the question is. . .
Is your attorney telling you that you may have a problem as, despite being below median income, your real time budget may show you have the ability to pay creditors?
Des. -
Yup - Des is correct on all counts. My SSD wasnt counted on means, however it was counted for DMI purposes, which turned out to be a great thing because if it werent, we would've had to surrender paid for vehicles due to not enough income to support base plan.Comment
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The idiocy of this legislation in its full glory-it doesn't count, but it really does-oyComment
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