COVID-19: How the CARES Act Will Impact Chapter 7 and Chapter 13 Consumer Bankruptcies
By Phoebe S. Winder, Ryan M. Tosi, Stacey Gorman, Emily Mather
On March 27, 2020, the President signed into law the historic Coronavirus Aid, Relief, and Economic Security Act (“CARES Act” or “Act”), a $2.2 trillion stimulus package designed to mitigate the widespread economic effects of the novel coronavirus (“COVID-19”). The Act includes several temporary modifications to chapter 7 and chapter 13 of the U.S. Bankruptcy Code.[1] This alert details these modifications.
Read More