The Honoring American Veterans in Extreme Need Act of 2019 (HAVEN Act) has been signed into law by President Trump.
The HAVEN Act was initially introduced in the U.S. House of Representatives by Lucy McBath (D-Ga.) and Greg Steube (R-Fla.).
What is the HAVEN Act
Disability benefits paid by the U.S. Department of Veterans Affairs and the U.S. Department of Defense will not be included in calculating income when it comes to bankruptcy and what is known as “means testing.” Some benefits are already excluded like Social Security disability benefits.
The “means test” calculates the last 6 months of income in order for one to qualify for bankruptcy. If a disabled veteran did not qualify for a Chapter 7 bankruptcy because he/she failed the “means test,” then Chapter 13 would be the next step which is a 36-60 month repayment plan with the court.
The HAVEN Act will result in more disabled veterans qualifying for Chapter 7.
Have questions regarding the Haven Act or filing for bankruptcy? Then call or text attorney Alex Hernandez for your free consultation.
Representing clients in the areas of Chapter 7 Bankruptcy, Family Law/Divorce, and car and motorcycle accidents for 20 years.
(904) 712-5565 or (305)-688-LAWS (5297).
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