As a navy veteran, veteran issues are near to my heart. It seems that more and more I am meeting with people who have been recently separated from the military for disability reasons. While most of these individuals are receiving veteran disability benefits which place their income well within the median income for their household size (and consequently make them eligible for Chapter 7 bankruptcy), from time to time, I meet with people whose income places them above the median levels set by the United States Census Bureau.
Because of their disabled veteran status, they may still be entitled to relief under Chapter 7 of the Bankruptcy Code. If a veteran is a disabled and his or her debts occurred primarily during a period of active duty or while performing “homeland defense activity”, he or she does not have to complete the Bankruptcy Form B22 means test.
While this is arguably a limited exception to the means test for which few will qualify, it emphasizes the importance of making sure you find a bankruptcy lawyer who will thoroughly examine your financial situation and make sure that, if bankruptcy is your best option, you make it through the process safely and take full advantage of its power to give you a fresh financial start.
If you have questions about how to manage debts that you acquired while you served in the military, we hope you’ll come in for a free, no-obligation consultation with an experienced Colorado bankruptcy lawyer. You can schedule an appointment by calling 303.331.3403 or by using our online scheduling system.