Social Security & Bankruptcy

Short post here as I wanted to address questions that I have been receiving from my clients.  If you file for Bankruptcy, your social security benefits are safe.  The trustee is not touching them, and they are exempt (in most instances) for purposes of income calculations.  In other words, you shouldn’t have any problems getting under the Means Test if you are living off of social security benefits (thats not to say your other assets are exempt-you need to discuss that with an attorney).  However, if you have reservations about the government check you’re receiving being taken if you file for Bankruptcy, then speak to a Bankruptcy attorney.  Many of my clients had large amounts of debt and were solely living off of social security.  These same people dealt with harassing collection calls, illegal garnishments and freezes until they sought advice.  You can do the same.