Not logged in? Join one of the bigest Law Forums on the Internet! Join Now!   Latest blog post: Research Law Professors Before Choosing Law Schools

Advertisments:




Sponsor Links:

Discount Legal Forms
Discounted Legal Texts


Section 13 And Child-Support Payments Received

Discuss the legalities of Bankruptcy Law

Section 13 And Child-Support Payments Received

Postby lot » Sat Feb 01, 2014 1:17 pm

My issue requires bankruptcy within the state-of: Mi - If my ex-spouse owes me back child-support (and doesn't spend frequently) and I'm in a chapter 13 bankruptcy... what could occur to any lump-sum funds he may create as time goes by? Am I going to need certainly to submit them for the trustee against my strategy?
lot
 
Posts: 20
Joined: Wed Jul 31, 2013 8:54 am
Top

Chapter 13 And Child Support Payments Received

Postby Rushkin » Tue Feb 11, 2014 7:54 am

Under 13 USC Sec. 1325(b)(2), child-support funds are usually omitted in the formula of one's disposable income.





Estimating 13 USC Sec. 1325(b)(2)
(2) For purposes of this subsection, the phrase?disposable income? Indicates current monthly revenue obtained from the consumer (apart from child support payments, foster-care payments, or disability payments for a dependent child produced in compliance with applicable nonbankruptcy law to the extent reasonably necessary to be expended for these child) less amounts reasonably necessary to be expended? (A) (i) for the maintenance or support of the debtor or a dependent of the debtor, or for a domestic support obligation, that first becomes due following the day the request is submitted; and
(ii) for charitable contributions (that fulfill the definition of?charitable contribution? under section 548 (d)(3) [1] into a qualified religious or non-profit entity or firm (as described in section 548 (d)(4)) within an amount to not exceed 15-percent of revenues of the debtor for the entire year where the efforts are created; and (W) when the debtor is involved running a business, for the cost of expenses required for the extension, maintenance, and procedure of these business.
Rushkin
 
Posts: 8
Joined: Thu Jan 16, 2014 7:56 am
Top


Return to Bankruptcy Law

 


  • Related topics
    Replies
    Views
    Last post
cron