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Adjustment of Certain Dollar Amounts Applicable to Bankruptcy Cases Filed on or After April 1, 2022

Wednesday, March 9, 2022

On April 1, 2022, adjustments to the dollar amounts stated in various provisions of the Bankruptcy Code and one provision of Title 28 of the United States Code will go into effect for cases filed on or after that date. The adjusted dollar amounts will affect, among other matters:

  • the eligibility to file a case under chapters 12 and 13 of the Bankruptcy Code;
  • the definition of a small business debtor;
  • the maximum values of certain property that a debtor may claim as exempt;
  • the maximum amounts of certain claims entitled to priority;
  • the calculation of the "means test" for chapter 7 debtors;
  • the duration of certain chapter 13 plans;
  • the minimum aggregate value of claims needed to commence an involuntary bankruptcy case;
  • the minimum value for certain preference actions;
  • the value of consumer debts for luxury goods and services presumed to be nondischargeable; and
  • where the trustee may commence certain proceedings.

Click HERE to view a chart showing the affected sections of the Bankruptcy Code and Title 28, with the current and adjusted dollar amounts in those sections.