Should the House raise the debt limits for Subchapter V and Chapter 13 bankruptcies?
Bankruptcy Threshold Adjustment Act (H.R. 7730)
Debt limits for small business and wage earner bankruptcies would go back up to levels that expired in 2024.
- Raises the Subchapter V debt limit from approximately $3.4 million to $7.5 million
- Raises the Chapter 13 cumulative debt limit from approximately $2.1 million to $2.75 million
- Counts secured and unsecured debt together toward the Chapter 13 limit