I was medically retired, but the problems seem to be piling up higher and higher. Retiree insight would be greatly appreciated.

T

thanks4urhelp

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PEB Forum Veteran
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I received the good news that I would be medically retired at 40% PDRL with a proposal of 100% P&T for VA. To have this benefit in my early 20s is life changing and I am as grateful as I can be, but ultimately it is an I.O.U from the government as it stands.

Rent is 1350 with a 75 dollar surcharge so 1425 a month, 450 for car payments and a couple more bills totaling around 2-300 dollars my expenses add up to around 2100 a month. Hoping to refinance my car to lower the payments and I've got a free month on this apartment as an introductory special. Stuck with this for a year.

I realize this isn't the best financial spot to be in and being independent from the parents is a whole hell of a lot more expensive than I anticipated. I fought pretty hard to avoid me and my wife being homeless, took the only deal that accepted me as I was income wise. Tough luck.

What I've got going for myself is good credit, and around 8,000 in credit to tide me over. Card was lowered to a 14% interest rate yesterday from 18%. Credit hovers at 750.

Tangible questions:

I separated from service on the 11th of July this year, 6 days ago. When should I expect VA payments to come in? My assumption is October.

Will you get back paid from the day after you separate?

Are you entitled to retirement pension until the VA begins paying you?

How long did it take DFAS to send you your final paycheck/sold leave/travel claim payment?

For those who faced similar issues, how did you deal with this? If you were in my situation, what would you do?
 
thanks4urhelp said:
I received the good news that I would be medically retired at 40% PDRL with a proposal of 100% P&T for VA. To have this benefit in my early 20s is life changing and I am as grateful as I can be, but ultimately it is an I.O.U from the government as it stands.

Rent is 1350 with a 75 dollar surcharge so 1425 a month, 450 for car payments and a couple more bills totaling around 2-300 dollars my expenses add up to around 2100 a month. Hoping to refinance my car to lower the payments and I've got a free month on this apartment as an introductory special. Stuck with this for a year.

I realize this isn't the best financial spot to be in and being independent from the parents is a whole hell of a lot more expensive than I anticipated. I fought pretty hard to avoid me and my wife being homeless, took the only deal that accepted me as I was income wise. Tough luck.

What I've got going for myself is good credit, and around 8,000 in credit to tide me over. Card was lowered to a 14% interest rate yesterday from 18%. Credit hovers at 750.

Tangible questions:

I separated from service on the 11th of July this year, 6 days ago. When should I expect VA payments to come in? My assumption is October.

Will you get back paid from the day after you separate?

Are you entitled to retirement pension until the VA begins paying you?

How long did it take DFAS to send you your final paycheck/sold leave/travel claim payment?

For those who faced similar issues, how did you deal with this? If you were in my situation, what would you do?
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Oh just answered a post you were in. Thought your last day in was July 30. If you were July 11 then its going to be August is the first month for VA coverage and Payment should be September 1st.

2-4 weeks after getting out you will get your last DFAS check. In your case if you were separated on the 11th of July then you would receive your last Active Duty military prorated check for July 1-10. They wait a bit to send you the last one to see if you have any debt obligations that need to be debited from it.

We saved several months ahead to make sure we have the equivalent of 3 months of pay in savings to cover the gap in income. Since its too late for that in your case I would see if you can do a promo cash advance or open a 0% credit card offer to cover your expenses until you get paid. That or borrow from family. Try to stay away from anything that is super high interest if possible.
 
Provis said:
Oh just answered a post you were in. Thought your last day in was July 30. If you were July 11 then its going to be August is the first month for VA coverage and Payment should be September 1st.

2-4 weeks after getting out you will get your last DFAS check. In your case if you were separated on the 11th of July then you would receive your last Active Duty military prorated check for July 1-10. They wait a bit to send you the last one to see if you have any debt obligations that need to be debited from it.

We saved several months ahead to make sure we have the equivalent of 3 months of pay in savings to cover the gap in income. Since its too late for that in your case I would see if you can do a promo cash advance or open a 0% credit card offer to cover your expenses until you get paid. That or borrow from family. Try to stay away from anything that is super high interest if possible.
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You were right about my sep date being the 30th. I didn't consider a 0% card but I'll look into it. I'm wondering about a 0% loan from NMCRS.
 
thanks4urhelp said:
You were right about my sep date being the 30th. I didn't consider a 0% card but I'll look into it. I'm wondering about a 0% loan from NMCRS.
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Maybe consider reaching out to your landlord? They don't need all the details, but just let them know you are retiring from the military meaning a consistent fixed income which they should like to hear for reliability. But then alert them that there is a month or so delay before the transition starts.

Just an idea... Good luck!
 
DaveK said:
Maybe consider reaching out to your landlord? They don't need all the details, but just let them know you are retiring from the military meaning a consistent fixed income which they should like to hear for reliability. But then alert them that there is a month or so delay before the transition starts.

Just an idea... Good luck!
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I'm under the impression they wouldn't be so keen on late payments... the lease is quite clear that late payments result in a fee and negative remarks on a rental referral. Would likely do payment on credit before considering a late payment.

What I'm thinking my realistic plan will be is applying for work that is attainable and reasonable for disability considerations. If I can't nail down a job in two weeks I'll file for unemployment and likely qualify for about two or three hundred dollars a week, which would be helpful in paying off minimum monthly payments. EBT/SNAP would follow.

I wanna do what I can to avoid utilizing these programs but can't really neglect food on the table or roof over our heads.

Another idea I am going to attempt before finalizing my job search is trying to fully allot myself for school. The VR&E counselor let me know I could get paid the monthly housing allowance if I am a full time student, and it would be paid at the Post 9/11 rate which is 2,300 for my area. I've already sent my counselor an email.
 
thanks4urhelp said:
I'm under the impression they wouldn't be so keen on late payments... the lease is quite clear that late payments result in a fee and negative remarks on a rental referral. Would likely do payment on credit before considering a late payment.

What I'm thinking my realistic plan will be is applying for work that is attainable and reasonable for disability considerations. If I can't nail down a job in two weeks I'll file for unemployment and likely qualify for about two or three hundred dollars a week, which would be helpful in paying off minimum monthly payments. EBT/SNAP would follow.

I wanna do what I can to avoid utilizing these programs but can't really neglect food on the table or roof over our heads.

Another idea I am going to attempt before finalizing my job search is trying to fully allot myself for school. The VR&E counselor let me know I could get paid the monthly housing allowance if I am a full time student, and it would be paid at the Post 9/11 rate which is 2,300 for my area. I've already sent my counselor an email.
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All sounds reasonable. If you don't already know, Goodwill has a program that specializes in helping Veterans find employment. They offer everything from guidance, resume help, to even finding the job itself. They even help with housing issues as well.

Services for Veterans - Goodwill Industries International

We are committed to helping servicemen and women make a successful transition back into civilian life. Goodwills across the country provide an array of services to veterans who have served in all eras of combat, from Vietnam and the Gulf War, to Iraq and Afghanistan. If you are a veteran and are...
www.goodwill.org www.goodwill.org
 
Update on this: reached out to NMCRS and they had me send all of my expenses to ARC. Sent quite a bit of things like findings, 214, ID cards, etc. I'm told I should have answers tomorrow regarding movement.

I'm hoping for a loan that I can pay off at 0% when VA pay rolls in.
 
NMCRS approved me for a 2288 dollar loan at 0% interest with payments starting in October at 100 dollars a month for 22 months. This is to cover my August expenses and I was told if I'm still in need in September to arrange another loan that will combine with this one. This pretty much eliminates all of my concerns.
 
thanks4urhelp said:
NMCRS approved me for a 2288 dollar loan at 0% interest with payments starting in October at 100 dollars a month for 22 months. This is to cover my August expenses and I was told if I'm still in need in September to arrange another loan that will combine with this one. This pretty much eliminates all of my concerns.
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Wonderful to hear. Keep hanging in there.
 
thanks4urhelp said:
NMCRS approved me for a 2288 dollar loan at 0% interest with payments starting in October at 100 dollars a month for 22 months. This is to cover my August expenses and I was told if I'm still in need in September to arrange another loan that will combine with this one. This pretty much eliminates all of my concerns.
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Awesome news! Glad to see that they approved it. I bet that takes a big weight off your shoulders in the meantime:)
 
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