If I file for bankruptcy, do I lose income I receive from the government such as Social Security?
Generally public benefits are protected even if you choose to file for bankruptcy. To ensure that they remain protected once these benefits are paid to you, it is widely suggested that you deposit them into an account that is only for your Social Security payments. By avoiding co-mingling these funds with other income or money you have, they will remain “identified” as Social Security benefits and thus, generally protected.
