Please exuse me pv34pv3p...
Wanted to start a new thread with this topic so others in the same situation could find it easier...
Question: Military retirement/disability pay appears to be exempt...but I do not understand the terminology.
By exempt, does this mean it is unattachable by creditors in bankruptcy proceedings?
Or not used to calculate total income therefore reducing your chance of exceeding the median income level?
Or both? Or neither?
If my military retirement/disability pay is excluded in calculations of income, I would be even further from the median income level for Texas, a point I don't believe my attorney knows about and has not mentioned to me. In fact that would mean I have no reportable income. My only income is my military retirement/disability pay and that is reported as my total income earned on court documents.
Sorry, I hate to be long winded, but I'm not understanding the concepts here.
Can anybody help me out?
Wanted to start a new thread with this topic so others in the same situation could find it easier...
Question: Military retirement/disability pay appears to be exempt...but I do not understand the terminology.
By exempt, does this mean it is unattachable by creditors in bankruptcy proceedings?
Or not used to calculate total income therefore reducing your chance of exceeding the median income level?
Or both? Or neither?
If my military retirement/disability pay is excluded in calculations of income, I would be even further from the median income level for Texas, a point I don't believe my attorney knows about and has not mentioned to me. In fact that would mean I have no reportable income. My only income is my military retirement/disability pay and that is reported as my total income earned on court documents.
Sorry, I hate to be long winded, but I'm not understanding the concepts here.
Can anybody help me out?
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