the7thirteen

(Wishing everyone remains safe and healthy, and looking forward to days with fewer masks and more smiles!) It’s a major source of concern for those in bankruptcy, or considering it.   Individuals in the midst of a bankruptcy case are at least as likely as anyone else to have dire need of the checks soon to be issued under the Coronavirus Aid, Relief and Economic Security (CARES) Act of 2020.   The checks are referred to in official circles as “recovery rebates” or “economic impact payments” but are often referred to as “stimulus payments.”   Since “stimulus payment” is shorter, easier to say, and about as accurate a description as anything else, let’s go with that.      Bankruptcy requires consideration of your income as well as your assets.   Depending on the type of bankruptcy case, you may be required to contribute all of your “current monthly income” or turn over property to a Trustee if you cannot claim the value of the property exempt.   These are two different c