Chapter 13 bankruptcy rules recently shifted with strict debt limits. Debtors must now meet a dual cap $1580.125 for secured debt and debts $526.700 for unsecure debts. Additionally, congress is actively considering the bankruptcy Threshold Adjustment Act to restore a single combined $2.750.00 limits. Anyone can file a bankruptcy as long as the induvial unsecured bets are less than $526.700 and secured debts are less than $1.580.125 as of the date of filing for bankruptcy relief 11 USC-109(e).
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