Wage exemption

[woohoogirl]

This is what I found under TN exemptions:

Wages
Minimum 75% of earned but unpaid wages, plus $2.50 per week per child; bankruptcy judge may authorize more for low-income debtors

I'm having a clueless day, and I can't for the life of me understand this. I can't wait for this all to be over with and maybe be able to complete a thought or sentence.

[FreshLikeADaisy]

This is what I found under TN exemptions:

Wages
Minimum 75% of earned but unpaid wages, plus $2.50 per week per child; bankruptcy judge may authorize more for low-income debtors

I'm having a clueless day, and I can't for the life of me understand this. I can't wait for this all to be over with and maybe be able to complete a thought or sentence.

Been where you are, girl.

Earned but unpaid wages are when your paycheck comes after the work you actually did. A simple example would be if the work you did this week ending 12/14 is actually paid out next Friday 12/21. If you had to wait a week or two to get a paycheck when you first started a job, that's an example.

I'm not in TN so I don't have to deal with that, but I can't really see how it would apply to the average Joe: we have to list cash in hand, cash in bank, etc when we file, and earned but unpaid wages are just not in the format. However, I can *definitely* see it applying to an independent contractor who is paid by the job, or a tradesman who works on the same project for six weeks and gets paid all at the end, like a plumber.

It'll get better.

[woohoogirl]

Thanks Freshie. I wasn't sure...I was wondering if that would protect my direct deposit, but then I realized ..... if it was direct deposited then that would mean I got paid...thus changing from unpaid to paid...DUH!!!!!

[FreshLikeADaisy]

Thanks Freshie. I wasn't sure...I was wondering if that would protect my direct deposit, but then I realized ..... if it was direct deposited then that would mean I got paid...thus changing from unpaid to paid...DUH!!!!!

No, don't feel bad, a lot of it is arcane and technical to the point of being mindboggling if you're not used to it. I'm not, but I'm learning.

I would add, I have NEVER, but NEVER, heard of a regular wage earner (you know, paid every week or two weeks) listing earned but unpaid wages. Not saying it's never happened, but I've been studying it pretty hard (books, cases, forums, blogs) and I've never seen it.

I think if you just give them what they ask for on Schedule B (assets) and approach it from that direction you'll be fine. It's much easier when you list out your assets *first*, before you even start thinking about exemptions, because doing it the other way around is like trying to hit a moving target. I know this because I tried it and it warped my lil brane for a couple days. Then I went back and did it like the book said to. DUH! Problem magically solved.