bornfree2

I don't think you get it. Increasing the debt limit for Chapter 13 SAVES the individual consumer a ton of $$$$ and heartburn. As to lawyers, if you read my post, I make MORE money by putting the client into a Chapter 11, not the Chapter 13. My first concern is for the client...

I have to agree with JB's comment relative to the above. "Banksters" and "China" have nothing to do with this.

What this means is a substantial reduction in overall cost for many debtors. Prior to this increase, those who needed to reorganize were forced into a Chapter...

Today, President Biden signed Senate Bill 3823 that increased the debt limit for chapter 13 to $2.75 million of noncontingent, liquidated debt without regard to the debt being unsecured or secured. This change is effective for two years, unless a new law is passed to extend or make the provision permanent....

While it is never a good idea to bank where you owe money, Chase is unlikely to do anything relative to your bank account. You should be fine.

Des.

Unless you have an Order to abandon, this claim is property of your bk estate regardless of whether or not you are a 100% Plan. If the asset was not abandoned, I tend to doubt that you have the authority to settle anything without obtaining the blessing of your bankruptcy judge. Did you discuss this...

The Trustee is not selling an asset unless he will recover something for the unsecured creditors. A few hundred dollars is probably not enough. If your exemption is $4,500 and the Trustee can sell it for $6,000 then maybe he will sell it. If he does, he must give you your allowed exemption before...