New Chapter 13 Debt Limits

09Mar10

Effective April 1, 2010, Chapter 13 debt limits will go up. This is exciting for those debtors who previously would only be able to file for Chapter 11 (more complicated and expensive) due to their inability to qualify for Chapter 13 because of too much debt.

The new limits prescribed in 11 U.S.C. Section 109(e) will go to $360,475 for liquidated, unsecured debt and $1,081,400 for liquidated, secured debt.

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