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Are Social Security Benefits Counted As Income For The Means Test?

Social Security benefits are not counted as income for the means test, so if you have received both wages and Social Security benefits during the previous six month period, you won’t have to include the Social Security earnings in calculating your current monthly income.

If your total income, minus Social Security benefits, is below New York’s median income for a household of your size, you qualify for Chapter 7 bankruptcy.

You’ll still have to make note of your Social Security benefits in your filing, and the bankruptcy court has some discretion in allowing Chapter 7 in cases with excess discretionary income.

To learn more about Chapter 7 qualifications and how to present your information in the most favorable light for a bankruptcy court, call the bankruptcy attorneys at Zelenitz, Shapiro & D’Agostino today for a free consultation, at 718-599-1111.