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How can they count unemployment wages as income?

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    How can they count unemployment wages as income?

    When you don't know if you'll have a job after the wages run out? That's the question, I guess. I'm not avoiding getting a job - honestly. I've been looking and interviewing since August when I first lost my job and nothing yet. So how can they count unemployment wages in figuring out income for which chapter you'd qualify filing for?

    Thanks in advance
    Chapter 7: filed 1/30/08
    341 Meeting: 3/05/08 Uneventful!!
    Last Day for Objections: 5/05/08
    DISCHARGED!!!: 5/07/08

    #2
    Because unemployment wages ARE a form of income. It's money that you're being paid by the state. The fact that you're technically not employed is irrelevant to them.

    Comment


      #3
      Originally posted by HAP View Post
      When you don't know if you'll have a job after the wages run out? That's the question, I guess. I'm not avoiding getting a job - honestly. I've been looking and interviewing since August when I first lost my job and nothing yet. So how can they count unemployment wages in figuring out income for which chapter you'd qualify filing for?

      Thanks in advance
      Unemployment wages are taxable income and have to be reported as income on your tax return for the year received and listed as income for any other purpose.
      _________________________________________
      Filed 5 Year Chapter 13: April 2002
      Early Buy-Out: April 2006
      Discharge: August 2006

      "A credit card is a snake in your pocket"

      Comment


        #4
        Yes, I realize all that. I guess I meant to ask since it is only for a specific period of time - if it is recommeded filing a chapter 13 and you need a steady income - how can they say unemployment wages are steady income when they will eventually run out? Guess I'll be doing Wal-mart if no other job in my field comes through after they run out.
        Chapter 7: filed 1/30/08
        341 Meeting: 3/05/08 Uneventful!!
        Last Day for Objections: 5/05/08
        DISCHARGED!!!: 5/07/08

        Comment


          #5
          Originally posted by HAP View Post
          Yes, I realize all that. I guess I meant to ask since it is only for a specific period of time - if it is recommeded filing a chapter 13 and you need a steady income - how can they say unemployment wages are steady income when they will eventually run out? Guess I'll be doing Wal-mart if no other job in my field comes through after they run out.
          You will be asked for income for a specific period of time prior to your filing. If your unemployment should happen to fall in that period, you will have to report it and show evidence of when it started and ended. It will be taken into consideration that it does end and will not be continual.
          _________________________________________
          Filed 5 Year Chapter 13: April 2002
          Early Buy-Out: April 2006
          Discharge: August 2006

          "A credit card is a snake in your pocket"

          Comment


            #6
            Thank you for your responses.
            Chapter 7: filed 1/30/08
            341 Meeting: 3/05/08 Uneventful!!
            Last Day for Objections: 5/05/08
            DISCHARGED!!!: 5/07/08

            Comment


              #7
              I would not recommend filing a 13 based on unemployment income. That's just my opinion.
              Chapter 7 Pro Se....Discharged Feb. 2006

              Comment


                #8
                It could go either way (hopefully towards a 7 obviously) but one consult I had said we make pretty good money right now (this is counting unemployment - yeah 400/week in UE before taxes is friggin' great money) and we wouldn't be able to file a chapter 7. Note that this isn't the attorney's office I'll be retaining as this was a paralegal that told me this because I guess the attorney was to busy to meet with anyone for the measley free consultation.
                Chapter 7: filed 1/30/08
                341 Meeting: 3/05/08 Uneventful!!
                Last Day for Objections: 5/05/08
                DISCHARGED!!!: 5/07/08

                Comment


                  #9
                  Well, if you think about it, income from an actual job isn't guaranteed to continue either.
                  You could be downsized next month.
                  Only difference is, that with unemployement, you know when it will stop.
                  7/01/10 - filed!
                  11/20/10 - discharged and closed

                  Comment

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