Public Assistance Income Clarification

Summary

Public assistance like SNAP and Medicaid are not considered income for financial applications, while regular cash assistance might be. Section 8 is a housing subsidy, not income. Defaulting on debt can harm credit scores; consult a financial advisor for guidance.

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what is considered? snap and medicaid use direct payment
In Connecticut, when applying for financial products, certain types of public assistance might be considered as income, while others are not. Here's a general guideline:
- SNAP (Supplemental Nutrition Assistance Program): This is not considered income as it's intended for food assistance.
- Medicaid: Also not considered income, as it's a health benefit.
It's best to check with the specific financial institution for their policy. Do you have any specific concerns or questions regarding a financial application?
so what are they talking about?
It seems like you're trying to understand what types of public assistance can be considered as income when applying for financial products. Generally, regular cash assistance can be considered income, but SNAP and Medicaid are not since they're benefits, not cash income. Are you applying for a specific financial product or have a particular concern?
then whats reasonable amount to possibly defaulton if i need to apply for credit?
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When considering the possibility of defaulting on debt, it's crucial to understand the implications for your credit score and future borrowing. Defaulting on any amount can negatively impact your credit score. It's generally advisable to avoid defaulting if possible. Consulting with a financial advisor could provide tailored guidance for your situation.