Unemployment Compensation
Quick (hopefully) question about Unemployment compensation. I am going to be fileing ch7 shortly. I have been saving up my unemployment checks for some time now and using my cash for all my living expenses. When I file I will have about 9000 in uncashed Unemployment Checks, and almost no cash/account balances. From everything I have read ALL the uncashed unemployment checks are to be concidered exempt property. Is there any way this will not be the case? I don't want this to be a red flag. Any comments?
Answer:
This is just my opinion. Not for anything but if you were able to save up all those unemployment checks the trustee may wonder how you were able to survive for so long. Then the real question becomes how much cash exemption you were allowed in the first place. Ask a local attorney for more advice. I'm no lawyer but I think UP checks are only valid for 30 days after date of issue and why wouldnt you cash them?? How do you pay bills if you dont cash them? Why do you think they would be exempt, it's income isnt it?
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