Am I reading 11 USC 101(10A) Correctly?
Posted: Thu Jul 15, 2010 10:26 am
An under-median client of mine just told me that his church gave him some cash to help him out. This cash gift happens to be during the CMI period, and if included as CMI, will cause him to become above-median - and with a presumption of abuse.
Since 11 USC 101(10A) defines income to include "any amount paid by any entity other than the debtor [...] on a regular basis for the household expenses of the debtor or the debtor's dependents [...]"
does that mean that a one-time cash gift, which is NOT paid on a regular basis, does NOT have to be included as CMI?
Thanks,
Donny Brand
Brand | Burris
3836 E Anaheim St
Long Beach, CA 90804
Tel: 562-438-7500
Fax: 562-438-8500
dbrand@brandburris.com
The post was migrated from Yahoo.