April 1, 2022 Adjustment of Certain Dollar Amounts Applicable to Bankruptcy Cases

Post date: 
4/5/2022

On April 1, 2022, adjustments to the dollar amounts stated in various provisions of the Bankruptcy Code and one provision of Title 28 went into effect. The adjustments impacted:

  • 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 (under federal law of Schedule C/not Local Form 91C);
  • 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

Several Official Bankruptcy Forms and two Director’s Forms were revised as a result of the adjustments:

  • Official Form 106C, Schedule C: The Property You Claim as Exempt;
  • Official Form 107, Statement of Financial Affairs for Individuals Filing for Bankruptcy;
  • Official Form 122A-2, Chapter 7 Means Test Calculation;
  • Official Form 122C-2, Chapter 13 Calculation of Your Disposable Income;
  • Official Form 201, Voluntary Petition for Non-Individuals Filing for Bankruptcy;
  • Official Form 207, Statement of Financial Affairs for Non-Individuals Filing for Bankruptcy;
  • Official Form 410, Proof of Claim;
  • Director’s Form 2000, Required Lists, Schedules, Statements, and Fees; and
  • Director’s Form 2830, Chapter 13 Debtor’s Certifications Regarding Domestic Support Obligations and Section 522(q) (the Court has its own form for this certification, called “Motion for Entry of Discharge form (Completed Plan)”).

A chart showing the affected sections of the Bankruptcy Code and Title 28, with reference to the amounts that were adjusted, is available here.

Revised forms, including the Court’s Motion for Entry of Discharge form (Completed Plan), may be found on or via the Court’s website.