Mass. Bankruptcy Attorney-Are there debt limits in a bankruptcy?

The short answer – YES.  And NO.

  Chapter 7 bankruptcy has no limit on the total debt involved.

 As for Chapter 13 bankruptcy filings, since 2007 the limit of debt has been $1,010,650 in  secured debt, and $336,900 in unsecured debt.  But on April 1, 2010, those debt limits will increase in accordance with the Consumer Price Index increase which has occurred over the past 3 years.  The estimated new limits will be $1,081,500 for secured debt, and $360,525 in secured debt.  

Kara O’Donnell, Esq.
O’DONNELL LAW OFFICES (857)526-1355
Quincy, Massachusetts
http://www.QuincyLegal.com

Help@QuincyLegal.com

Posted by Kara O’Donnell