Question 1

A gig economy job can affect __________.

Accepted Answer

Gig economy jobs can affect both an individual's schedule flexibility (Schedule I) and their eligibility for certain means-tested benefits (Means Testing), as income from these jobs can vary and impact financial assessments.

Question 2

Because tax refunds are income, it belongs to the client and not the bankruptcy estate.

Accepted Answer

Tax refunds are considered part of the bankruptcy estate if they are derived from income earned before the bankruptcy filing, and thus, they can be subject to claims by creditors in the bankruptcy process.

Question 3

Tax refunds are exempt property.

Accepted Answer

Tax refunds are generally considered part of a debtor's estate and are not automatically exempt property. Exemptions depend on specific laws and circumstances.

Question 4

The Bankruptcy Intake should be completed by the _______.

Accepted Answer

The Bankruptcy Intake should be completed by the client.

Question 5

Five months ago, Tim worked only one day as an Uber driver because the next day he was hired for full-time work. Because he earned less than $50 that day, his income is not included for purposes of Means Testing.

Accepted Answer

Means Testing considers all sources of income, regardless of the amount, to determine eligibility for certain programs or benefits. Even if Tim earned less than $50, this income should still be included in the means test calculation.

Question 6

Due to an increase in income, the debtor is expecting a tax refund. In January, you first became aware of this issue when the client made the last payment of fees and costs. What should be discussed with the client?

Accepted Answer

The answer of Due to an increase in income, the...

Question 7

Why should the client complete the Bankruptcy Intake and not office staff?

Accepted Answer

The answer of Why should the client complete the Bankruptcy...

Quiz 7: Bankruptcy Intake: Employment, Income, and Expenses