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CARES ACT and COVID-19 modified definition of "disposable income"

Posted by Madeline M. McIntosh | May 15, 2020 | 0 Comments

CARES ACT

For those claims filed under Chapter 7 and Chapter 13 the CARES ACT has revised the definition of current monthly income to exclude payments made under Federal law relating to the national emergency declared by the President under the National Emergencies Act with respect to the coronavirus disease 2019 (COVID–19). The Act provides that federal payments made pursuant to COVID-19 do not qualify as “disposable income” required for the Chapter 13 debtor's plan. This will benefit not only current filers but those future filers.

This blog is intended for information purposes only and does not establish legal representation or financial guidance. 

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Madeline M. McIntosh

Law Office of Madeline M. McIntosh

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If you have any questions about any aspect of your disability claim, a denial or filing Bankruptcy, contact the Law Firm of Madeline M. McIntosh today at 469-678-7274 or [email protected].

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