Bankruptcy Threshold Adjustment Act
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Summary
This bill amends federal bankruptcy law to increase the debt thresholds that determine eligibility for certain bankruptcy chapters. Specifically, it raises the small business bankruptcy debt limit from its current level to $7,500,000 and increases the consumer bankruptcy debt limit to $2,750,000. These changes would allow individuals and small businesses with higher debt levels to access bankruptcy protections under chapters 13 and subchapter V of chapter 11, respectively.
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