Trusted Bankruptcy Attorneys in Pensacola Announce Extension of Bankruptcy Relief
Pensacola, Fla. – This month, the United States House of Representatives formally passed the COVID-19 Bankruptcy Relief Extension Act. The bill, which is an extension of the current COVID-19 bankruptcy relief provisions under the Coronavirus, Relief, and Economic Security (CARES) Act, was originally introduced to the House of Representatives in late February where it easily passed in a 399-14 majority and will now move on to the Senate. Lewis & Jurnovoy, P.A., bankruptcy attorneys in Pensacola, confirm that the extension would allow an extension for bankruptcy relief, defined under the bill, until March 27, 2022.
Introduced by Senator Chuck Grassley, the bipartisan bill protects COVID-related stimulus payments from being seized by creditors. Lawmakers were able to exclude these relief payments from being labeled as forms of income so that the payments can remain in the hands of debtors as financial relief. Additionally, all court-ordered payment plans under Chapter 13 bankruptcy are temporarily delayed and businesses will be able to take advantage of a more streamlined Chapter 11 bankruptcy process, as outlined in the Small Business Reorganization Act. The COVID-19 Bankruptcy Relief Extension Act will also ensure that those who have been involved in bankruptcy cases will still be eligible for eviction moratoriums, mortgage forgiveness plans, and prevent utility service suspensions. This protection will apply to both individuals as well as families.
Since 1998, the offices of Lewis & Jurnovoy, P.A. have been helping clients across the Florida Panhandle resolve financial situations. As Pensacola’s trusted debt attorneys, they are dedicated to helping clients make knowledgeable decisions in choosing the best plan of action according to their specific situation. The firm specializes in both Chapter 7 and Chapter 13 bankruptcy cases, offering a free consultation to potential clients who may be considering bankruptcy. For further inquiries or to ensure the smoothest process possible when filing for bankruptcy, give Lewis and Jurnovoy a call today at (850) 432-9110 or visit their website at www.lewisandjurnovoy.com
For more information about Lewis & Jurnovoy, PA Pensacola, contact the company here:
Lewis & Jurnovoy, PA Pensacola
1100 North Palafox St
Pensacola, FL 32501