Unlike a Chapter 7 Bankruptcy, when a person files for a Chapter 13 Bankruptcy there are caps on the amount of debt.
Beginning on April 1, 2010 the debt limits for filing Chapter 13 bankruptcy are set to increase to a maximum of $360,475.00 for unsecured debt and to a maximum of $1,081,400.00 for secured debt.
Section 104 of the Bankruptcy Code requires that the debt levels for a Chapter 13 Bankruptcy be re-evaluated every 3 years.
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