question on winning lottery and debt collectors
Date: Fri, 11/07/2008 - 17:00
I told him to take the $1,500 or whatever it is and file a chapter 7.
1) It should not affect his benefits. While it is a form of "in
1) It should not affect his benefits. While it is a form of "income" and will have to be reported on a 1099 at end of year, it is not a permanent source of income and so it should not affect disability benefits. Although I'm not an expert on SSI, that's just my logic, so don't quote me on it.
2) The lottery doesn't care about a judgment and won't know that he has one, nor would they take the time to find out if he has one. To that extent, they won't hold it and will cash it for him. However, if he cashes the ticket and puts it in a bank account - the creditor may be able to freeze the bank account and take whatever's in it. The chances of the creditor finding out he won the lottery are pretty slim though, unless someone actually calls them and tells them.
Thanks, that's what I figured on the Social Security. I said he
Thanks, that's what I figured on the Social Security. I said he paid into it so it's pretty much his money. If it was Supplemental Security, that is a different source so assets,bank accounts have to be at a minimum.
As for the lottery I said to get a safe deposit box at the bank and put it there or buy a safe for the house and keep it there just don't put it in an account.
