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Debt Limits for Chapter 13 Debtors

Debt Limits for Chapter 13 Debtors

IF YOUR DEBT EXCEEDS A CERTAIN LEVEL YOU CANNOT FILE A CHAPTER 13 BANKRUPTCY

Even though Chapter 13 is the best or only solution for you from a bankruptcy standpoint, you might not be qualified to file a Chapter 13 bankruptcy because of the debt limits.As of April 1, 2016, a debtor cannot have more than $1,184,200.00 in non-contingent, liquidated secured debt and $394,725 in non-contingent, liquidated unsecured debt. If you owe more than these amounts you can only file a Chapter 7 or Chapter 11mbankruptcy.

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