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Unemployment and Student Loan Refund

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  • 12-19-2008, 09:04 AM
    tiffhop
    Unemployment and Student Loan Refund
    My question involves bankruptcy in the state of: Virginia

    Hello. I have a couple of questions. I am in the process of getting all my bills and information together to file for bankruptcy. I recently was laid off in November and I will be receiving unemployment after my last paycheck in December.
    My question is I am also a full time student and I have grants and loans that will pay for my classes in January. I will be receiving the balance of the money from school which I will then use to pay for household expenses - rent, lights, insurance, car note, and books. Where do I claim this additional income and because it is money from my student loan is it income or something else - which schedule does it go on?
    Also, as far as household items do I also claim the items in my adult son's room since he is also a college student but still my dependent. How about any money he receives from his part-time job that he uses to pay some household bills.
    Thank you
  • 12-22-2008, 04:49 PM
    Mr. Knowitall
    Re: Unemployment and Student Loan Refund
    It sounds like you're going to need to get help from a bankruptcy lawyer to get through the process, so I suggest consulting one about your circumstances.

    It does not sound like you're going to be filing for bankruptcy before you receive the student loan proceeds, so I'm not sure that's an issue. Student loan proceeds aren't income.

    You claim your property, not that of other adults. If you are receiving contributions toward your household from your son, you should indicate that.
  • 12-27-2008, 01:23 AM
    philslyn
    Re: Unemployment and Student Loan Refund
    student loan is on schedule E schedule I
    individual income including the family member
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