Can I join the Army Reserves or National Guard if I am currently collecting compensation from the VA?

No you don't. You still have to medically qualify. You can keep using the GI Bill.
As for the service connection- you can keep it. The VA might call for a review at sometime in thr future.
This is how it works. You can't draw military pay and VA compensation at the same time, you have a choice: get the full reserve pay but reduced VA pay for the same amount. Or reduce the pay by the amount of your VA benefit, most people go option two. Your VA comp is non- taxable.

Example: you earn $100/ month for drill (or any military pay). Your VA comp is $150. You can opt to the $150 in VA pay (tax free) and not get military pay. Or take the military pay and only get $50 from the VA (military is taxed). Same thing on active duty. Make sense? You get all retirement points from the reserve

Keep all paperwork regarding how much you're paid from each source. They'll audit you pretty much yearly, proof of income is all you need.

It depends on your disability. I separated and was awarded a 10% disability. There was no issue when I joined the National Guard. The compensation was adjusted accordingly. I eventually went back to active duty and the compensation stopped.
To those who think a person shouldn't be able to re-join, think a little deeper. When you separate, you will probably receive some disability compensation. The issue for which you are being compensated started, or was diagnosed, while you are in the military. With your logic, the person should be discharged upon diagnosis.
So..... When you lose some of your hearing, which is a very common diagnosis, should you be immediately discharged? I think I know the answer to that. Disability compensation isn't an indicator that you were unable to do your job.

My brother had 10% disability for a foot injury from the Air Force. Before He joined the Air Force Reserve he had to sign it away or they wouldn't let him join.

Wow wait a minute. I re-enlisted and 8 days I was medically discharged. I just received a AAM for my work during the Katrina mission. All that you are a great asset professional knowledge and a hole lot more. I filed for a disability pension and was denied. They said I was hurt on active duty but they don't feel responsible for my injuries. So I asked seeing that I don't qualify for a disability I would like to be let back in. They said I was medically discharged for being medically unfit for duty. So I can't collect and I can't be back in so how is that possible. I served 15yrs 8 days. I was a construction supervisor who not only did he work but designed a lot of it. I'm just lost how this can be real

I have been collecting va disability for years but I am only 30% which is why I'm allowed to stay in. I'm in the national guard so they take out my drill days out of my disability

Yes i do believe that if they will except you in you can claim a waiver with the VA. To me it doesnt mtter why you want to go back in and its no one else business. I do believe you can still get a fertain amount of compensation from drilling. Just make sure and sign the waiver. Or the VA will take every cent back from you.

Here is the deal. " IF " you rejoin, you will Lose a Portion of your disability. Here is an Example: if you make $1500 in disability a month and your pay is about $250 f…[See More]

Edit

After active duty, I joined the National Guard because I wasn't ready to be a civilian and there were many parts of service and the uniform that I missed. I eventually ended up being disabled (it took a while for the paperwork to go through) and my PTSD also got significantly worse after being out of active duty for some reason, which resulted in an increase in disability rating and benefits. This is what happens--you can't collect both disability AND National Guard pay. It's one or the other. So in my case, I continued to receive disability pay and did several years of National Guard service without pay...essentially for free. For me, that was okay. I didn't need the money (it was all of $250 at the time, I think). If you're receiving less disability money than the money you would receive from reserve/guard duty, then you can also choose to accept the reserve pay and put your disability pay on hold.

As for others disparaging you for wanting to continue to serve even after being disabled, shame on them. Serving ones country is about more than just money for some and disability doesn't have to stop one from serving (as long as it's within a certain percentage and a certain kind of disability. You'd have to check with your unit for what they'll find acceptable).

HELL NO

You cannot recive VA compensation and pay from the military. You must contact VA so they can stop you VA benefit because you're not entitled to it while on active duty, active duty for training and drill. If you fail to notify VA, an overpayment situation will occur and you will have to pay these funds back to VA. The effective date your award will cease is the date you go back to active duty status. Please note, once you separate from active duty, you can notify VA and they will set up C&P exams to once again determine your level of disability. Hoe that helps!