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Bankruptcy And Va Benifits


jeancollie

Question

I am a chapter 13 bankruptcy. I am 70% service connected. I recently was raised to 90%. This entitles me for back pay in a lump sum. Can the trustee take my money?

Please HELP>>>>>>>>>

:unsure:

State is KY

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  • HadIt.com Elder

Talk to your lawyer.

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  • HadIt.com Elder

I doubt that they could take it since it is VA compensation, and for the fact that you have already been in the chapetr 13 process, it will be up to you if you want to use the retro to pay off early, unless you have a goverment debt in the bankruptcy.

I would consult the lawer who did the chapter 13 for you just to make sure of the language, the old system was changed under the new and improved version of bankruptcy law.

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  • HadIt.com Elder

Why did you do chapter 13 instead of chapter 7? Chapter 7 wipes out all your debts. It is honorable to try and pay back debts but if you puts you into poverty I think you might consider Chapter 7.

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Why did you do chapter 13 instead of chapter 7? Chapter 7 wipes out all your debts. It is honorable to try and pay back debts but if you puts you into poverty I think you might consider Chapter 7.

I tried to file a 7 but they converted it to a Chapter 13. They said we made to much money.

Thanks

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I doubt that they could take it since it is VA compensation, and for the fact that you have already been in the chapetr 13 process, it will be up to you if you want to use the retro to pay off early, unless you have a goverment debt in the bankruptcy.

I would consult the lawer who did the chapter 13 for you just to make sure of the language, the old system was changed under the new and improved version of bankruptcy law.

I filed under the old law. I don't owe the goverment. I don't want to pay off early. The lump sum is like $20000.00 and I need it because I may have to quit my job because of my disabilities. The only reason I am still working is because I would lose everything. (Home,car,boat,ATV Ect.) The VA has told me I could file for unemployability and get it. But because I am in a Chapter 13 I don't want them to convert me back to a Chapter 7 because it would be under the new law and I don't want to lose everything.

I just don't know what to do...... :unsure: My lawyer gives me the answer I don't think they can take it. I just want to know for sure... Thanks for your reply.

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Talk to your lawyer.

I did and he said he thought I could keep it. I really don't think he knows... But it is to late to find a new lawyer. I just thought someone maybe has run into this before and could help me out....... Thanks 4 your reply. :unsure:

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  • HadIt.com Elder

Being that it was after the fact , you should be safe , and that you filed under the old law makes it better.

Best to keep quite about it, what they dont know cant hurt them , and you have no goverment debt , so it is none of their beezwax.

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  • HadIt.com Elder

Most VA stuff flies iunder the radar.

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Guest anfrnkie
I am a chapter 13 bankruptcy. I am 70% service connected. I recently was raised to 90%. This entitles me for back pay in a lump sum. Can the trustee take my money?

Please HELP>>>>>>>>>

:unsure:

State is KY

i have not read your topic,but i would like to know what this bankruptcy is about and i can.t see why you have to file ch 13
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Guest jstacy

VA compensation is just that. Compensation and it is not considered taxable income and therefore it should not even be considered under bankruptcy no matter what chapter you file. You do not report it as income.

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