A new day is coming to high debt borrowers seeking to file Chapter 13 but confounded by the debt limits imposed by 11 U.S.C. § 109(e). Although debt limits have been increasing since the effective date of the Code in 1979, consumer debts have been increasing at a far more rapid rate. Starting in 2009, when the housing crisis first hit, millions lost their homes by means of foreclosure and, many faced deficiencies that were so substantial they could not qualify for Chapter 13 relief.
Compounding this, the massive growth in student loan balances added . . .
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