Showing posts with label bankruptcy. Show all posts
Showing posts with label bankruptcy. Show all posts

Monday, August 26, 2019

Senate finally worked together to protect disabled veterans during bankruptcy

Trump Signs Bill Protecting Disability Payments for Veterans Who Declare Bankruptcy
By Patricia Kime
23 Aug 2019

President Donald Trump signed legislation Friday that prevents debt collectors from seizing veterans' disability compensation if they declare bankruptcy.
U.S. President Donald Trump stands with World War II veterans during a ceremony to mark the 75th anniversary of D-Day at the Normandy American Cemetery in Colleville-sur-Mer, Normandy, France, Thursday, June 6, 2019. (AP Photo/David Vincent)

The Honoring American Veterans in Extreme Need, or HAVEN, Act extends the same protection for veterans disability payments that's afforded Social Security disability payments: By law, debtors are now not allowed to count these benefits as disposable income subject to seizure during a bankruptcy.

The bipartisan legislation, introduced earlier this year by Rep. Lucy McBath, D-Georgia, in the House and Sens. Tammy Baldwin, D-Wisconsin, and John Cornyn, R-Texas, in the Senate, passed by voice vote in both legislative bodies and was widely hailed by veterans groups.

"Our disabled veterans should never be penalized for injuries they sustained in service to our country. They have earned their benefits, and it's our duty to stand up for them if they fall on tough times," McBath said.

"By protecting their disability compensation during bankruptcy, we can help [veterans] and their families regain financial stability," Cornyn said after the Senate passed the measure.
read it here