Maine Bankruptcy and Debt Relief Blog
Chapter 13 Debt Limits to Adjust on April 1, 2010
Posted on 03/26/2010 at 12:00 am by
Molleur Law Offices
Viewed 1,287 times
On April 1, 2010, the debt limits in Chapter 13 will upwardly adjust. Sometimes a bar to Chapter 13, these new debt limits may make filing Chapter 13 now possible where the same debtor may have had to file an individual Chapter 11 cases.
Every three years (11 U.S.C. §104), the Bankruptcy Code increases the debt limits in Chapter 13 (11 U.S.C. § 109(e)) in an attempt in account for inflation, among other things. The increase is tied to the Consumer Price Index.
The new debt limits will be $1,081,500.00 for secured debts and $360,525.00 for unsecured debt. This increase may open the door to Chapter 13 for debtor's whose liabilities exceed either one or both of the limits. The increase represents about a 7% increase.
|
Previous Chapter 13 Debt Limits |
Post April 1, 2010 Chapter 13 Debt Limits |
| $336,900.00 unsecured | $360,525.00 unsecured |
| $1,010,650.00 secured | $1,081,500.00 secured |
Tags for Chapter 13 Debt Limits to Adjust on April 1, 2010
Bankruptcy | News | Blog | Chapter 13 | Bankruptcy Code
Why should you choose Molleur Law Office?
- 01/12/12 - Sambatakos, Stark, and Hayden Become Members of Molleur Law Office
- 11/27/11 - Current on Student Loan Payments, But Having a Hard Time?
- 11/27/11 - Hayden and Stark Attend Fall Bankruptcy Conferences
- 07/24/11 - Supreme Court Restricts Bankruptcy Court Authority
- 06/06/11 - Bankruptcy Court Rules on Discharge Injunction Violation
- 02/01/11 - Supreme Court Rules on Means Test
- 01/10/11 - Comprehensive Foreclosure Defense
- 12/03/10 - Sambatakos elected to Habitat Board
- 10/22/10 - Molleur Law Office Represents Maine Homeowners in Federal Lawsuit Against First American Title Insurance Company
- 10/04/10 - Molleur Law's Efforts Lead to Halt in GMAC Foreclosures
- 10/01/10 - Maine Court Finds Affidavit Filed in Bad Faith and Vacates Summary Judgment Order in Foreclosure
- 09/02/10 - MLO Works With Habitat for Humanity
- 07/13/10 - Maine Court Foreclosure Diversion Program
- 06/28/10 - Supreme Court Decides Two Cases
- 05/31/10 - MLO Opens Portland Office
- 05/22/10 - Molleur and Sambatakos Attend NACBA
- 05/22/10 - Molleur achieves "AV" Rating
- 03/26/10 - Recent Supreme Court decisions
- 03/26/10 - Chapter 13 Debt Limits to Adjust on April 1, 2010
- 03/26/10 - The Effects of Foreclosure on Credit Score
Molleur Law Office, Biddeford419 Alfred Street |
Biddeford Hours
|
Molleur Law Office, Portland
537 Congress Street, Suite 401 |
Portland Hours
|
NOTE: Molleur Law Office cannot offer specific debt relief advice or bankruptcy representation through
online or phone communications. Contact: (207) 283-3777, or email sandra@molleurlaw.com to set-up a Debt Relief Consultation.
James F. Molleur, Tanya Sambatakos, Andrea Stark and Jennifer Hayden, bankruptcy lawyers located in Portland, ME and Biddeford, Maine —licensed in Maine as a bankruptcy specialist by the American Board of Certification. Licensed bankruptcy attorneys serving Maine and Massachussets. Molleur Law Office - James F. Molleur—Maine Debt Relief Agency and bankruptcy counseling for individuals & businesses in Biddeford, Portland, Sanford and throughout Southern Maine. Maine's only certified Consumer Law Attorney also offers assistance to prevent foreclosure, file Chapter 7, Chapter 13 and more. The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.