Wednesday, October 29, 2008

National Guard and Reservists Debt Relief Act of 2008

The National Guard and Reservists Debt Relief Act of 2008 (S. 3197) exempts, for a limited period, from the application of the means-test presumption of abuse under chapter 7, qualifying members of reserve components of the Armed Forces and members of the National Guard who, after September 11, 2001, are called to active duty or to perform a homeland defense activity for not less than 90 days. Basically, it (temporarily) exempts qualifying persons from the means test in determining eligibility for Chapter 7 relief under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.

Co-sponsors: Sens. Patrick J. Leahy (D-Vt.), Richard
J. Durbin (D-Ill.), and Orrin Hatch (R-Utah); Signed it into law: October 20, 2008.

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