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COVID-19: How the CARES Act response to the corona virus outbreak will affect Chapter 7 and Chapter 13 bankruptcies

President Trump signed H.R. 748 the “CARES Act” into law on March 27, 2020 that stimulates the economy with a $2.2 trillion government subsidy. Among this, individuals will receive an estimated $560 billion. With the rise in unemployment, and concerns regarding creditor-debtor relationships, COVID-19 and the CARES act will have a dramatic impact on those …

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