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Debt Limit - Adjustment on April 1, 2010

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    Debt Limit - Adjustment on April 1, 2010

    This seems like a simple question, but I have searched for a while now and can not find it...

    When the Chapter 13 Debt Limits adjust on April 1, 2010, what determines how much they adjust? I would think some standard government measure, like inflation or CPI, but I can not find that info anywhere.

    #2
    See 11 USC 104 which controls the adjustment of dollar amounts. As you pointed out, it's based on the CPI.


    (b)(1) On April 1, 1998, and at each 3-year interval ending on April 1 thereafter, each dollar amount in effect under sections 101(3), 101(18), 101(19A), 101(51D), 109(e), 303(b), 507(a), 522(d), 522(f)(3) and (f)(4), 522(n), 522(p), 522(q), 523(a)(2)(C), 541(b), 547(c)(9), 707(b), 1322(d), 1325(b), and 1326(b)(3) of this title and section 1409(b) of title 28 immediately before such April 1 shall be adjusted—

    (A) to reflect the change in the Consumer Price Index for All Urban Consumers, published by the Department of Labor, for the most recent 3-year period ending immediately before January 1 preceding such April 1, and

    (B) to round to the nearest $25 the dollar amount that represents such change.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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      #3
      Thank you! I figured it was a quick/easy one to find.

      Comment

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