Earned but Unpaid Wages
Date: Wed, 06/24/2009 - 10:58
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 :?
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 :?
Earned but unpaid wages are wages you earned before your filing
Earned but unpaid wages are wages you earned before your filing date, but were not yet paid to you. Most states have an exemption amount that covers all or part of your unpaid wages depending on how much you make.
