Money & Debt

Resources covering credit and loans, taxes, collections and repossessions, and bankruptcy.

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Where to find Social Service Providers

A partial listing of non-legal advocates and social service providers that may be able to help you with the challenges you're currently facing. These national networks should offer you a good starting point to find the help you need.
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Debts

Question:

I'm 100% service-connected. If I purchase vs lease a car; will the IRS or any creditors be able to make me sell my asset, to satisfy any outstanding taxes, if the purchase is made with VA. disability pay?

 

Jim's Reply:

Your question is much more complex than you realize. In a nutshell, VA disability pay can not be garnished to pay for debt.

But VA disability pay may be clawed back if you owe federal debt (IRS, student loans) and it may be apportioned if you owe child support or alimony. 

So far as any automotive purchases or leases or rentals go, your method of payment won't have anything to do with any financial transaction in the future. If you fall behind on payments, the vehicle may be repoed no matter how you've paid for it.

I don't know that anyone can make you sell existing assets to pay taxes. That's a new one on me and you'd have to consult a tax lawyer to be sure but that doesn't sound realistic. Otherwise, make the best deal you can, keep timely with payments and you won't have any problems.

 

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Loss-Mitigation FAQs for Veterans and Servicemembers

Read about Loss-Mitigation as it relates to veterans and servicemembers. Loss-mitigation refers to the methods lenders use to avoid having to foreclose on your home.
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The American Veterans and Servicemembers Survival Guide

The Veterans and Servicemembers Survival Guide is a detailed 600 page guide originally printed in 2009. Read more to access the guide and learn more about what it has to offer.
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Unemployability eligibility?

Question:

Hi Jim. Can i qualify for a unemployability claim if I receive a city/state retirement pension?

 

Jim's Reply:

Maybe, maybe not. The pension probably won't interfere but there are plenty of other factors. Applying for TDIU is the only sure way of knowing your eligibility.

 

Direct Deposit

Question:

I changed my Ft Bragg Credit Union Account Number. I was told that I have to let he VA disability department know so they can make the change from the old account to the new account. Where do I go to let the finance department know?

 

Jim's Reply:

You can find that info here https://www.va.gov/change-direct-deposit/  

 

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TANF (Temporary Aid to Needy Families)

TANF provides a basic monthly income to families who have few other resources. The program used to be called AFDC (Aid to Families with Dependent Children). It may be called something else in your state.
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Military Acronym User-Guide

Military jargon involves numerous acronyms. In order to assist you, we have provided this acronym guide for your easy reference. The acronyms selected are those we found to be the most common when addressing legal issues for servicemembers, veterans and their families.

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Interactive Form - Auto Lease Termination

The Purpose of the Service Members’ Civil Relief Act (SCRA) is to provide protection to service members who have difficulty meeting their financial and legal obligations because of their military service. If you are called to active duty for at least 180 days, then you may terminate a motor vehicle lease duty without paying an early termination fee or other penalty. The motor vehicle lease must have been signed before being called to active duty.
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Interactive Form - Cell Phone Service Contract Termination

Cell Phone Contract Termination

As a member of the Armed Forces, Reserves, National Guard or other uniformed services, you have legal protections for you and your family when you are called into active duty military service.

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