Veterans facing bankruptcy typically ask if their benefits should be included on Schedule 1.<\/p>\n
Schedule 1 is a form required by the bankruptcy court, and it is otherwise referred to as Current Income of Individual Debtor. If you are a veteran, and are filing for bankruptcy protection under Chapter 13 or Chapter 7, then this form must be included. If you have a spouse, there is a place for them to be added on the form. While these forms may seem complex, if they are discussed with a qualified Iowa bankruptcy lawyer, most of the questions would be clearly answered.<\/p>\n
As with many rules and regulations, there are some exemptions to this rule. In this instance, there are certain items that are considered to be exempt from liquidation under a Chapter 7 bankruptcy. Those exemptions include alimony, child support, Social Security, unemployment and veteran\u2019s benefits. Even though the veteran\u2019s benefits are exempt, they (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Veterans facing bankruptcy typically ask if their benefits should be included on Schedule 1. Schedule 1 is a form required by the bankruptcy court, and it is otherwise referred to as Current Income of Individual Debtor. If you are a…<\/span><\/p>\n