QUESTION

What income is exempt in filing bankruptcy?

Asked on Feb 13th, 2013 on Bankruptcy - Georgia
More details to this question:
I am a 40% disabled veteran. Is my VA compensation benefits exempt as income in filing a means test? And also is my social security benefits exempt?
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1 ANSWER

William Rhymer
In Georgia, only your social security benefits are not counted in calculating the means test for income eligibility. The VA income is calculated as part of your household income along with any other types of income you may have. Roughly. if you take your gross VA benefits plus any other non-social security gross income for the last 6 full months and double that amount, it will give you your income for means tests purposes. But eligibility actually depends on the size of your household and any regular income other members of your household may have.
Answered on Feb 17th, 2013 at 7:07 PM

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