New Law Helps Disabled Veterans in Chapter 13 Plans
Disabled veterans facing bankruptcy, got a big boost yesterday when the HAVEN Act became law.
From now on, disabled veterans can’t be forced to use their veterans disability payment to fund debt repayment plans. Here in Northern Virginia, there are many disabled veterans, who are also working. Those veteran families had been considered high income and forced into very high payment plans under bankruptcy Chapter 13.
At my Stafford location, I've met many disabled veterans facing tough financial difficulties.
Now the bankruptcy court is not allowed to consider the disability pay, in calculating what these veterans can “afford” to pay their creditors.
Senator Tammy Baldwin was the chief sponsor of this bill in the US Senate.
(I was one of the members of NACBA who lobbied for this bill on Capitol Hill earlier this year.)