✉news WorldUS Politics first seen 10 h ago, last 9 h ago, peak #28
Congress Passes Law Raising Bankruptcy Debt Limits
Original: Congress Passes Law to Raise Subchapter V and Chapter 13 Debt Limits
Congress has passed legislation raising the debt limits for Subchapter V small-business bankruptcies and Chapter 13 consumer filings. The change will allow more small businesses and individual debtors to qualify for those bankruptcy protections, which had been capped at thresholds that inflation and economic pressure had increasingly outpaced. Legal observers note the adjustment affects how many struggling borrowers can restructure debts under the bankruptcy code.
Why now: The new law expands bankruptcy relief eligibility for small businesses and consumers, a topic of interest to debtors and practitioners.
US CongressSubchapter VChapter 13
Evidence
- Congress Passes Law to Raise Subchapter V and Chapter 13 Debt Limits · The National Law Review
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