split between secured debts ($1,257,850) and unsecured debts ($419,275). Te bill, therefore, increases by more than $1 million the debt limit for Chapter 13 cases and simplifies the eligibility requirement. Tis change will expand the number of individuals eligible and could result in individuals who would otherwise have to file individual Chapter 11 bankruptcy cases to file under Chapter 13. As a result, creditors, especially banks, credit unions and other lending institutions, may become more frequently involved in Chapter 13 cases than before and may need additional awareness and guidance on how to navigate the Chapter 13 case and plan process.


Te bill will need to pass the Senate and the House of Representatives before it can be considered for signing by the President. Te bill can be tracked at congress.gov/bill/117th- congress/senate-bill/3823.


Eric M. Van Horn assists clients nationwide with all aspects of bankruptcy, reorganizations, negotiations, collection actions, multijurisdictional insolvencies, and corporate liquidations. Visit spencerfane.com for more details. Spencer Fane is an MBA associate member.


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