Extending Debt Relief Protections for National Guard and Reservists
This law extends for an additional four years the period during which qualifying National Guard and Reserve members can more easily file for Chapter 7 bankruptcy (debt liquidation). By exempting them from the standard income test (the means test), the law provides crucial financial relief. This measure supports service members who faced financial hardship due to active duty deployment after 9/11.
Key points
Easier Debt Discharge: Qualifying service members are exempt from the standard income test when filing for Chapter 7 bankruptcy.
Protection Extended: The duration of this special financial protection is extended by four additional years (from 15 to 19 years).
Eligibility: Applies to National Guard and Reservists called to active duty for 90 days or more since September 11, 2001.
Status:
Expired
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