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COVID-19 Bankruptcy Relief Extension Act of 2021 signed into law 

| Mar 30, 2021 | Bankruptcy, Firm News

On Saturday, March 27, 2021 President Biden signed the COVID-19 Bankruptcy Relief Extension Act of 2021 into law. This bill extends for one year all of the bankruptcy-related provisions that were included in the CARES Act passed on March 27, 2020. These provisions will now expire on March 27, 2022. Importantly, this includes the ability of a chapter 13 debtor to modify and extend a chapter 13 plan to a term of up to 7 years if needed, due to COVID-19 related economic hardship. The bill also makes all debtors with chapter 13 plans that were confirmed by March 27, 2021 eligible for this relief.