What Will Happen To
My Social Security Income If I Declare Bankruptcy?
The good news is Social Security retirement benefits are
protected in bankruptcy.
The most
commonly used protection for benefits is the fact that social security income
is excluded from income available to repay creditors. This means it does not
count in the means test for chapter 7 eligibility, and is not considered as
income used to determine the amount to repay unsecured creditors in a chapter
13 bankruptcy.
If you are considering
filing for bankruptcy you need to speak to a professional. Call the bankruptcy
attorneys of King and King in Atlanta, Georgia for a free consultation.
404-524-6400
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