Expiration of Debt Limits

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Welp, it doesn’t look like Congress is going to act . . .

As you know, Congress temporarily raised the debt limits for Subchapter V and Chapter 13 debtors. These increased debt limits are set to expire on Friday, June 21, 2024. Without further action by Congress, for Chapter 13 filers, the combined unsecured and secured debt limit will fall from $2.75 million to $465,275 for unsecured debt and $1,395,875 for secured debt.The debt limit for Subchapter V debtors will decrease back to $3,024,725.

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