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Veterans Exempt from Means Test

| Aug 26, 2019 | Bankruptcy, Chapter 13, Chapter 7, Firm News

On Friday, the President signed the Honoring American Veterans in Extreme Need Act of 2019, which excludes from the calculation of monthly income, for purposes of the Bankruptcy Code’s means test, certain benefits paid by the Department of Veterans Affairs and the Department of Defense. Previously, there was an active-combat exception which was very narrow; I think I only had one or two people who were even close to qualifying, and after some digging it turned out they weren’t eligible.

This law office honors military service by offering a 15% to all vets and active duty service members.