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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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If my yearly income is below the state median income, is there

Resolved Question:

If my yearly income is below the state median income, is there additional financial information that's required?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.
Hi JACustomer,
What is the source of your income? (Eg. employment, pension, etc.)
Customer: replied 5 years ago.
Social Security
Expert:  cfortunato replied 5 years ago.
You will have to submit a copy of your most recent Social Security award letter to the Bankruptcy after you file a Bankruptcy. (You will get the name and address of the trustee when you file.)

I think this is what you wanted to know. If not, please let me know.
Thank you.
cfortunato and other Bankruptcy Law Specialists are ready to help you
Customer: replied 5 years ago.
Is real estate value taken into consideration? My name is XXXXX XXXXX mortgage as 1/3 owner.
Expert:  cfortunato replied 5 years ago.
Are you asking if you have to list the real estate you own, are you asking if paying the mortgage will affect your ability to file a Bankruptcy, or something else?
Customer: replied 5 years ago.
I want to know whether having my name on the mortgage will have any bearing on my ability to file Chapter 7.So I guess what I need to know is whether I have to list the real esate, even though I'm not responsibile for the mortgage payments.
Expert:  cfortunato replied 5 years ago.
You said your "name is XXXXX XXXXX mortgage as 1/3 owner".
1) If your name is on the mortgage, you are responsible for the mortgage - even if you are not paying it - and you do therefore have to list the mortgage. If your name is not on the mortgage, you do not have to list the mortgage because it is not your debt.
2) If your name is XXXXX XXXXX deed, you do have to list the real estate. If your name is not on the deed, you do not have to list the real estate.
cfortunato and other Bankruptcy Law Specialists are ready to help you