Feeds

8933 items (5903 unread) in 34 feeds

• A Clean Slate -- The Bankruptcy Law Blog (107)
• A Texas Bankruptcy Lawyer's Blog (91)
• » Long Island, New York | NY | Bankruptcy Lawyer | Attorney At Law (152)
• Bankrate.com: Beating Bankruptcy Blog Headlines
• Bankruptcy and Restructuring Blog (26)
• Bankruptcy Beach (25)
• Bankruptcy Case Blog (27)
• Bankruptcy Fraud Resource Center (20)
• Bankruptcy Law Network - Real Lawyers, Real Solutions (1474)
• Bankruptcy Litigation Blog (50)
• Bankruptcy Reader
• BankruptcyBill.us (11)
• BankruptcyProf Blog (602)
• BankThink (180)
• Business Bankruptcy Blog (56)
• Chicago Bankruptcy Lawyers & Attorneys (16)
• Credit Slips (695)
• Delaware Bankruptcy Litigation (84)
• Delaware Business Bankruptcy Report (66)
• E-Everything for Bankruptcy Lawyers... (25)
• Finance & Law for Not-So-Dummies (63)
• Georgia Bankruptcy Blog (302)
• Houston Bankruptcy Attorney (12)
• In The (Red) Business Bankruptcy Blog (43)
• Insolvencyblog.com (63)
• Miami Florida Bankruptcy Law (131)
• National Bankruptcy Forum (151)
• New York Bankruptcy and Consumer Law Blog (34)
• SC Bankruptcy Blog (72)
• Tech Bankruptcy (56)
• The Florida Bankruptcy Law Blog (151)
• theBKblog (100)
• Total Bankruptcy (318)
• WSJ.com: Bankruptcy Beat (700)

LEGAL DISCLAIMER:
Content contained on or made available through the Web site is not intended to and does not constitute legal advice and no attorney-client relationship is formed. By using the blog, you agree that the information on this blog does not constitute legal or other professional advice and no attorney-client or other relationship is created. The accuracy, completeness, adequacy or currency of the Content is not warranted or guaranteed. The opinions expressed at or through the blog are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney and do not reflect those of the ABI. Your use of information on the Web site or materials linked from the Web site is at your own risk.

» Long Island, New York | NY | Bankruptcy Lawyer | Attorney At Law (1)

• What Income Has to be Disclosed in a Bankruptcy Petition?

  Posted: November 1st, 2009, 4:00am PST by Craig

  Written by Craig D. Robins, Esq.   The simple answer is that all income of any kind must be disclosed in a bankruptcy filing.  Some clients think that because they “work off the books” they don’t have to disclose that income.  That’s certainly not the case.  All income must be disclosed — no matter how it is received.   In addition to salary and earnings from employment, all other types of income must be disclosed as well.  These include: .

  • Rental Income
  • Business Income
  • Investment Income 
  • Child Support, Alimony, and Maintenance
  • Gambling Winnings
  • Pensions and Retirement Income 
  • Individual Retirement Account (IRA) Withdrawals
  • Life Insurance Policy Withdrawals
  • Money received through Inheritance  
  • Social Security / SSDI Benefits
  • Disability Payments
  • Unemployment Insurance Proceeds
  • Workman’s Compensation
  • Food Stamps or Welfare
  • Annuity payments
  • Regular Contributions from others in the household
  • Payment on Notes and Mortgages you own

  Even though all income must be disclosed, that doesn’t necessarily mean that all of it must be included in the means test.  For example, Social Security payments do not fit into the means test calculation.    There can be strict penalties for failing to accurately disclose all of your income.  They include having your bankruptcy petition dismissed or being denied a discharge.  Consumers have a great opportunity to discharge their debts with bankruptcy.  It’s not worth messing around and jeopardizing your ability to eliminate your debts by neglecting to reveal everything.

  Related posts:

  1. Cash Advances Are Not Pre-Petition Income  Recent Case Further Defines Means Test Criteria by Craig D....
  2. Can You File Chapter 7 Bankruptcy on Long Island With a Family Income of $200,000 a Year? Written by Craig D. Robins, Esq. . … ....
  3. If I Make Over $100,000 a Year, Can I Eliminate Credit Cards Debts in Bankruptcy? Many High Income Families on Long Island are Eliminating Debts...

  Related posts brought to you by Yet Another Related Posts Plugin.