3 Surprising Facts About Military Bankruptcy
Security Clearance and Military Bankruptcy
Military Bankruptcy Chapter 7 or 13
There is no difference between Chapters 7 and 13 for our military personnel. I’ve filed over a hundred military cases, with the mixture about evenly split. Often, moving expenses don’t get reimbursed enough to cover moving a family to a new duty station. Or, unexpected expenses create credit debt that eventually becomes impossible to deal with any other way. Just like the civilian population, service members sometimes need debt relief, and military bankruptcy is the best way to handle serious money problems in or out of the service.
Military Bankruptcy and the Haven Act
The HAVEN act became effective August 23, 2019. I have already used the act for several of my military clients. This act, among other things, excludes veterans benefits from being counted in the means test, just like social security benefits have always been excluded. A number of my clients were unable to file Chapter 7 cases, or were required to pay more to their creditors, because of their VA benefits. No more!
I’ve discussed this matter directly with our local United States Trustee’s office.
I was informed that veteran’s benefits will not be counted for purposes of the means test by any of our local trustees in the Southern District of Ohio, and further more, if we disclose these benefits, they will also not be counted for other bankruptcy purposes. Thus, the law now treats veterans more fairly than before when they need to seek bankruptcy protection.
I’m proud to be a veteran. And, I am proud to be able to serve fellow veterans who need bankruptcy assistance. We can do your entire case online.
And, I’m proud to file military bankruptcy for my fellow veterans and for active duty servicemembers.
Military bankruptcy can help you focus on your job, and not worry about your finances.
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