President Trump signed the Honoring American Veterans in Extreme Need Act of 2019, known as the HAVEN Act to help aid disabled military veterans in qualifying for bankruptcy protection. Prior to the passage of the HAVEN Act, only income from social security was excluded from calculation of a debtor’s disposable income. This has been the law since 2005 when Congress passed the Bankruptcy Abuse Prevention Act and Consumer Protection Act (BAPCPA). Now under the HAVEN Act, VA disability income is likewise excluded and exempt from the calculation of current monthly income. The HAVEN Act marks a significant step in bipartisan support of our country’s military families and acknowledges the needs of our disabled veterans. For more information, contact Ron Holmes at (505) 268-3999.