{"id":4286,"date":"2011-03-11T09:00:31","date_gmt":"2011-03-11T09:00:31","guid":{"rendered":"http:\/\/www.duncanlawonline.com\/?p=4286"},"modified":"2015-04-13T04:02:34","modified_gmt":"2015-04-13T04:02:34","slug":"is-family-support-considered-income-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.duncanlawonline.com\/staging\/8350\/is-family-support-considered-income-for-bankruptcy\/","title":{"rendered":"Is Family Support Considered Income for Bankruptcy?"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"Is Family Support Considered Income for Bankruptcy Purposes?\" width=\"1200\" height=\"675\" src=\"https:\/\/www.youtube.com\/embed\/spCXMeYPzKs?wmode=transparent&amp;rel=0&amp;feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>If you are considering <a title=\"File for Bankruptcy in North Carolina\" href=\"https:\/\/www.duncanlawonline.com\/bankruptcy\/\">filing bankruptcy<\/a>, I am sure that you have been researching what types of bankruptcy are common and what they may involve. Upon doing your research, I am sure that you have seen the word &#8220;qualify&#8221; a good number of times.\u00a0 &#8220;How do I qualify?\u00a0 Is it not enough that I can&#8217;t pay my bills?!?!&#8221; one might say, but indeed you must meet income qualifications which have a major impact on which ever bankruptcy you choose to file.\u00a0What is considered income you may ask? The most common type of income is a salary or wages you earn from employment.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignleft wp-image-4287 size-medium\" style=\"margin-left: 0px; margin-right: 10px;\" title=\"Mother and Daughter\" src=\"https:\/\/www.duncanlawonline.com\/wp-content\/uploads\/2011\/03\/AA-mother-and-daughter-older-300x199.jpg\" alt=\"Mother and Daughter\" width=\"300\" height=\"199\" \/><\/p>\n<p>Many people going through financially tough times will get support from their family and friends. So, with that said, is family support considered income for bankruptcy? Yes. If you receive financial support from family on a regular basis it is also considered income and must be included in your budget. Just because it\u2019s not reported to the IRS or State when you file your taxes, doesn\u2019t mean it\u2019s not considered income in your bankruptcy.<\/p>\n<p>Here are some other kinds of income that must be included in your bankruptcy:<\/p>\n<p style=\"padding-left: 60px;\">Unemployment compensation<\/p>\n<p style=\"padding-left: 60px;\">Babysitting\/Side jobs<\/p>\n<p style=\"padding-left: 60px;\">Child Support<\/p>\n<p style=\"padding-left: 60px;\">Alimony<\/p>\n<p style=\"padding-left: 60px;\">Self Employment<\/p>\n<p style=\"padding-left: 60px;\">SSI (Social Security Income)<\/p>\n<p style=\"padding-left: 60px;\">Retirement\/Pensions<\/p>\n<p style=\"padding-left: 60px;\">Retirement\/Pension withdrawals<\/p>\n<p style=\"padding-left: 60px;\">Sales of stock<\/p>\n<p style=\"padding-left: 60px;\">Rental income<\/p>\n<p style=\"padding-left: 60px;\">Money received for room and board (support from a roommate)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you are considering filing bankruptcy, I am sure that you have been researching what types of bankruptcy are common and what they may involve. Upon doing your research, I am sure that you have seen the word &#8220;qualify&#8221; a good number of times.\u00a0 &#8220;How do I qualify?\u00a0 Is it not enough that I can&#8217;t &#8230; <a title=\"Is Family Support Considered Income for Bankruptcy?\" class=\"read-more\" href=\"https:\/\/www.duncanlawonline.com\/staging\/8350\/is-family-support-considered-income-for-bankruptcy\/\" aria-label=\"Read more about Is Family Support Considered Income for Bankruptcy?\">Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,28,7,8,10,30],"tags":[],"class_list":["post-4286","post","type-post","status-publish","format-video","hentry","category-bankruptcy","category-bankruptcy-video","category-chapter-13","category-chapter-7-2","category-duncan-law-blog","category-video","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Is Family Support Considered Income for Bankruptcy?<\/title>\n<meta name=\"description\" content=\"Properly determining your income is critical in having a successful bankruptcy filing. Money from family or friends is considered income.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.duncanlawonline.com\/staging\/8350\/is-family-support-considered-income-for-bankruptcy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Family Support Considered Income for Bankruptcy?\" \/>\n<meta property=\"og:description\" content=\"Properly determining your income is critical in having a successful bankruptcy filing. 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