What Is Current Monthly Income Mean in Bankruptcy?

//What Is Current Monthly Income Mean in Bankruptcy?

What Is Current Monthly Income Mean in Bankruptcy?

The “current monthly income” received by the debtor is a defined term in the Bankruptcy Code and means the average monthly income received over the six calendar months before commencement of the bankruptcy case, including regular contributions to household expenses from nondebtors and including income from the debtor’s spouse if the petition is a joint petition, but not including social security income or certain payments made because the debtor is the victim of certain crimes. 11 U.S.C. § 101(10A).

Please call the law offices of Gopal & Pedigo, PC for a free bankruptcy consultation in the Nashville, TN area.

By | 2010-07-12T05:05:11+00:00 July 12th, 2010|Bankruptcy Blog|0 Comments

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