I have seen a few people question this on this site as well...I've done some research but still do not know what this means...
Can anyone help? It says under exemptions:
Minimum 75% of earned but unpaid wages, pension payments; bankruptcy judge may authorize more for low-income debtors
This is for VA, but seems to be the same in most states and federal... what does it mean?
What is earned but unpaid wages? Is this a future regular paycheck? For example - I am meeting with my attorney on 6/30 - she will file that afternoon or the next day. I get paid again on 7/10 --- so is 25% of my paycheck not exempt? Will it be used to pay creditors?
That would only be like $275 -- is it all of my paychecks until the discharge --- if this is what is, can the wildcard e xemption cover the 25%?
Sorry, I'm just really confused on that part :?