Hello, I am in the process of filing chap 13 and have a question concerning possible future VA benefits. I have filed for an increase in my VA disability but am quite positive I will have no result before trustee meeting. If approved, the increase in my benefit will be substantial plus there will be a substantial backpay lump sum amount. What will happen here? Do I need to inform the trustee of this "maybe"? Thanks Bigbob
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VA Disability, as Social Security, I believe is exempt. However, do inform your attorney of this and all that is involved. Best of luck to you!_________________________________________
Filed 5 Year Chapter 13: April 2002
Early Buy-Out: April 2006
Discharge: August 2006
"A credit card is a snake in your pocket" -
Flamingo believes correct. All the benefits are exempt in BKDisclaimer: I am not an actor on TV, but I play a BK Paralegal in real life. Nothing I say should be construed as legal advice, or really anything but entertainment. Please seek out professional help.Comment
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VA comp
All my income is derived from SS and VA. If my income is exempt why file chapter 13? Should I file 7 and just be done with the debts? That seems rather preposterous they would let me do that. My income is $3600 per month. ThanksComment
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My opinion: If you are in trouble enough for 13, that will ding your credit anyway, why not try 7? Have a new start and don't do it again....LOL 'HubOriginally posted by jimann70 View PostIf I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.Comment
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So why are you filing Ch 13? Are you hoping to keep secured assets like a house or car that you currently are behind payments for and can't get caught up before filing? That's one reason you may have to file Ch 13 to keep them.Originally posted by jimann70 View Post
Also you must show a minimum of $100/month disposable income on the Means Test plus Schedules and be able to pay your non-secured creditors what they would receive in a Ch 7. Have you met with at least one lawyer? Did a bk lawyer run a Means Test? Did a bk lawyer recommend filing Ch 13?I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to goComment
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Jimann - you mentiond in your first posting that you were in the process of filing a Chapter 13. So one would assume you have seen an attorney and maybe had income coming in from some other source (we can only go by what is posted on here or guess...). If you had seen an attorney and only had VA disability coming in and/or SS, you should have been correctly advised by the attorney. Hope you get this straightened out and all works out for you - best of luck to you!Originally posted by jimann70 View Post_________________________________________
Filed 5 Year Chapter 13: April 2002
Early Buy-Out: April 2006
Discharge: August 2006
"A credit card is a snake in your pocket"Comment
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Actually, if you are not in trouble with the IRS, and if you are well under your Homestead Exemption, why file at all, you are basically untouchable.Disclaimer: I am not an actor on TV, but I play a BK Paralegal in real life. Nothing I say should be construed as legal advice, or really anything but entertainment. Please seek out professional help.Comment
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