I receive pension income and unemployment income since March 2010 due to forced retirement. Can I use only the pension for Means Test ?
Mr. Price is correct, both incomes are counted for the means test calculation to determine elgibility for Chapter 7 bankruptcy or to determine your minimum payment in a Chapter 13 bankruptcy.
There has been an argument made by some attorneys that unemployment income is paid to states, and consequently persons, through the social security act, and consequently, should not be counted as income on the means test. This argument is made because the bankruptcy law exempts social security income from the means test.
To my knowledge, no bankruptcy court in Kentucky have addressed this issue. I believe there are some bankrutpcy courts in other states that have ruled both ways, some counting it as income for the means test, some not.
You should contact an attorney in your area to discuss your options in regard to this issue.
The above information is provided to you as general information only and is not to be considered as legal advice, as I am not your attorney. You should immediately seek legal advice on this matter and employ an attorney to give you that advice. No attorney client relatiionship has been established by the providing of this general information.
Sorry, but neither unemployment income nor pension income are the same as social security. Therefore, they both must be used for the Mean's Test.
Price Law Group
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