Gelberg Stuart P

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Bankruptcy Law Attorneys, Attorneys, Bankruptcy Services

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(516) 228-4282Call Visit WebsiteVisit Website Map & DirectionsDirections600 Old Country Rd Rm 410Garden City, NY 11530 Write a ReviewWrite Review

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Mon - Fri:	9:00 am - 5:00 pm

Places Near Garden City with Bankruptcy Law Attorneys

Mineola (2 miles)
Westbury (3 miles)
New Hyde Park (6 miles)
Hicksville (8 miles)
Hempstead (9 miles)
Freeport (10 miles)
Great Neck (11 miles)
Valley Stream (12 miles)
Massapequa (14 miles)
Farmingdale (14 miles)

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Phone: (718) 343-2228

Phone: (516) 228-4280

Location

Citibank Bldg

Neighborhood

East Garden City

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Stuart P Gelberg Law Office

Stuart P Gelberg Attorney

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https://www.ny-bankruptcyattorneys.net/contact.html

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Bankruptcy Law Attorneys, Attorneys, Bankruptcy Services, Business Law Attorneys, Legal Service Plans, Personal Injury Law Attorneys, Real Estate Attorneys

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Phone: (516) 228-4282

Address: 600 Old Country Rd Rm 410, Garden City, NY 11530

Website: https://www.ny-bankruptcyattorneys.net/contact.html

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Gelberg Stuart P

Personal Injury
Stuart Gelberg has been chosen as one of New York’s Top Rated Lawyers for 2016 by New York Magazine and the New York Law Journal.

Bankruptcy
On August 23, 2019 The HAVEN Act Public Law No. 116-52 was signed into law. The HAVEN Act amends 11 U.S.C. Section 101 (10A), Definition of Current Monthly Income (CMI), in order to make it easier for Veterans to qualify for Chapter 7 Bankruptcy relief. An amendment to the Bankruptcy Code added the “Means Test”. Congress acted to prevent what they perceived as abusive Chapter 7 bankruptcy filings by individuals capable of repaying at least some of their debt by developing a needs based test. The Means Test requires all consumer debtors to disclose all of their income for the six month period preceding the date of filing. After computing the individual’s income, as defined by 11 U.S.C. Section 101(10A), that income is compared with the mean income for such an individual. If the individual is below median income no further testing is required and the individual automatically qualifies for Chapter 7 relief. If the individual’s CMI exceeds the median, there is a second part to the Means Test where certain allowable deductions against income are computed. If the individual has a certain amount of excess income after deduction of those allowable expenses the individual does not automatically qualify for Chapter 7. This article is in no way intended to thoroughly analyze 11 U.S.C. Section 101(10A). However, the point to be made is that the more CMI an individual has the less likely that individual will automatically qualify for Chapter 7 bankruptcy. Back to The HAVEN Act. 11 U.S.C. Section 101(10A), CMI, was amended to exclude “...any monthly compensation, pension, pay, annuity, or allowance paid under title 10, 37, or 38 in connection with a disability, combat-related injury or disability, or death of a member of the uniformed services, except that any retired pay excluded under this sub-clause shall include retired pay paid under chapter 61 of title 10 only to the extent that such retired pay exceeds the amount of retired pay to which the debtor would otherwise be entitled if retired under any provision of title 10 other than chapter 61 of that title.” The exclusion of the specific “compensation, pension, pay, annuity or allowance” will reduce and possibly eliminate the individual’s CMI making it more likely that the recipient will be eligible for Chapter 7 relief. The HAVEN Act excludes the payment source and basis, and it is not the individual’s status as a Veteran that allows the income to be excluded. Next, it is not all income received from the Department of Defense (DOD) of VA that is excluded. Excludable payments are limited to monthly payments under Title 38 to veterans who have a service-connected disability also known as “Service-Connected Disability Compensation” and “Veterans Compensation”. Also excluded are VA “Dependency and Indemnity Compensation”. An example of a potentially excludable payment is Title 37 Hostile Fire Pay/Imminent Danger Pay. Such pay would not be automatically excluded unless it was bei

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