Some higher earning people may be concerned that the Chapter Seven bankruptcy Means Test would prevent them from getting protection from debts. The recently announced extension of the National Guard and Reservists Debt Relief Act of 2008 means those Means Test concerns are reduced for National Guard members or certain reservists.
If you need protection from debts, now is the time to act while the exclusion is in place and before it expires.
How We Can Use the National Guard and Reservists Debt Relief Act of 2008 in Chapter Seven Bankruptcy Law to Get YOU past the Bankruptcy Means Test.
The National Guard and Reservists Debt Relief Act of 2008 provides a temporary exclusion from the bankruptcy means test for certain reservists and members of the National Guard. At the request of the Judicial Conference’s Advisory Committee on Bankruptcy Rules, Interim Rule 1007-I (pdf) was transmitted to the courts for adoption as a local rule to implement the temporary exclusion. The temporary exclusion originally went into effect for three years on December 19, 2008. It has been extended several times by Congress, most recently until December 19, 2023.
Come in or call 205-989-1919 for a FREE consultation.
Talk to a lawyer (not an assistant) TODAY!
Virtual consultations are available.