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"
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Originally posted by jimann70 View PostAll 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. ThanksIf 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.
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Originally posted by jimann70 View PostAll my income is derived from SS and VA. If my income is exempt why file chapter 13?
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 go
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Originally posted by jimann70 View PostAll 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. Thanks_________________________________________
Filed 5 Year Chapter 13: April 2002
Early Buy-Out: April 2006
Discharge: August 2006
"A credit card is a snake in your pocket"
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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.
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