If I’m in a Chapter 13 and will now also be receiving social security benefits, the trustee will include these benefits in our payment plan?
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If I’m in a Chapter 13 and will now also be receiving social security benefits, the trustee will include these benefits in our payment plan?
Asked on March 29, 2012 under Bankruptcy Law, Michigan
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You are correct about your social security benefits being included in your chapter 13 plan in that under the law of the United States, one's social secuirty benefits paid on a monthly basis is income subject to federal and state taxation. Since the social security benefits are income, they will be included in your bankruptcy plan as a monthly asset that you will be receiving by the trustee.
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