Legal Question in Bankruptcy in California

Question regarding Schedule I

Under Schedule I. If I am currently unemployed and making zero money, then do I put down everything as a zero or n/a? I am currently claming unemployment from the State of New York, but because it is in pending status right now I am not being sent any money at all. If I haven't received any money from the government yet, do I still need to put how much I'm expected to receive down in the SS or other Income box?, or do I still put it down as zero because that is the situation now?

And also regarding taxes. If I'm expected to make a refund, where do I write that down? I read somewhere that I you were to receive a refund that you would have to hand it over to the court. Please advise.


Asked on 1/12/05, 11:21 am

1 Answer from Attorneys
Gary Fraley California Bankruptcy Attorneys

Re: Question regarding Schedule I

Hello. I am Gary Fraley, Founder and owner of California Bankruptcy Attorneys. I am a certified bankruptcy specialist and do work for clients statewide. You put your present income on the main part of I schedule. Below it on the same page is a place to put anticipated changes in income like unemployment or social security. You may or may not lose your tax refund depending on what exemption system you use in California. Most people who do not own homes with significant equity in California get to keep their tax refunds. Keep in mind that you do not have a choice in listing your right to receive a refund. Not listing it can cause you to not only lose it to a Bankruptcy Trustee when it could have been protected but can subject you to denial of the discharge of your other debts and the potential of going to prison for bankruptcy fraud. If you want to look at a good up to date list of exemptions for California you can find one on my Online Law Office web site at CA-Bankruptcy-Attorneys.com. I do give free initial phone consultations. If you want one call my staff at 1(800) 675-1005. I hope this helps. Good Luck. --Gary

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Answered on 1/17/05, 9:00 pm


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