Stimulus Checks and Bankruptcy

As part of an ongoing effort to address the economic recession, the government may issue stimulus checks such as the ones sent out in 2008. Stimulus checks are a type of tax rebate check sent to Americans in hopes that it will help ease an economic burden. If a person is considering bankruptcy or going through the process, receiving such a check may or may not affect the bankruptcy proceedings.

If you or someone you know is struggling to stay financially stable, you may want to consider filing for bankruptcy. Contac the West Palm Beach bankruptcy attorneys at the law office of Eric N. Klein & Associates, P.A. to discuss the ways that bankruptcy may be able to help you. Call 516-353-2800 today to schedule a free initial consultation.

How a Stimulus Check May Affect Bankruptcy

If you are in the midst of filing for bankruptcy, you may be required to give your stimulus check to your trustee, who will use it to help repay your debts. In addition, if you have not yet begun filing for bankruptcy, a stimulus check may put you over the income limit for filing for Chapter 7. If this occurs, you may be forced to file for Chapter 13 bankruptcy, instead.

Regardless of where you are in your bankruptcy proceeding, you must record all income, including a stimulus check. If you have questions about any changes in your finances and how they may affect your bankruptcy claim, you need to speak with a West Palm Beach bankruptcy attorney.

Contact Us

To learn more about the ways in which bankruptcy may be able to help relieve your financial woes, contact the West Palm Beach bankruptcy lawyer of the Eric N. Klein & Associates at 516-353-2800 today.