While under Chapter 13 repayment, are VA disability benefits required to be listed as income?
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While under Chapter 13 repayment, are VA disability benefits required to be listed as income?
My parents filed for Chapter 13 bankruptcy and are still under the required arranged payment agreement. My father (a disabled Vietnam veteran) has just received a lump sum of retroactive disability benefits from the VA and now will be receiving a certain amount of benefit each month. Does the lump sum benefit and recurring monthly benefit have to be claimed as income or is it exempt? How will it effect their monthly payment? How much of the lump sump would they lose?
Asked on August 18, 2011 Michigan
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
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