QUESTION
If I file for chapter 7 bankruptcy and my son gets survivor benefits will this affect him being his debit card is in my name?
Asked on Sep 28th, 2012 on Bankruptcy - New York
More details to this question:
My son debit card is in my name and I want to know if I file for chapter 7 bankruptcy will this affect his money from social security.
10 ANSWERS
Your filing should not affect his benefits. It may have to be included in your income.
Answered on Oct 02nd, 2012 at 9:37 PM
Bankruptcy Attorney serving Bellevue, WA
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Wild Sky Law Group, PLLC
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Social security money is usually exempt from creditors, and debit cards are not usually affected by bankruptcy, only credit cards.
Answered on Oct 01st, 2012 at 1:54 PM
Bankruptcy Attorney serving Myrtle Beach, SC
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Law Office of Margaret L. Evans, PC
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It shouldn't, but it MUST be disclosed on the petition.
Answered on Oct 01st, 2012 at 9:12 AM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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It may affect your qualifying for a bankruptcy.
Answered on Sep 30th, 2012 at 9:19 PM
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No. SSI income is exempt. Just make sure it is not commingled with other monies.
Answered on Sep 30th, 2012 at 9:18 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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No it will not.
Answered on Sep 30th, 2012 at 9:18 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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Please rephrase this question. You seem to be mixing different concepts into it.
Answered on Sep 30th, 2012 at 9:17 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Normally not, but it is included as "income" to the family. Please understand that filing for bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy.
Answered on Sep 30th, 2012 at 9:17 PM
Daniel James Wilson
Interesting question. First, your son's benefits are probably income for Means Test purposes. Second, your son's benefits are not an asset and cannot be reached by a trustee. Finally, your BK will have no effect on his benefits. Good luck. Don't do this without a lawyer.
Answered on Sep 30th, 2012 at 8:36 PM
The answer is no.
Answered on Sep 30th, 2012 at 7:54 PM