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What are the DEBT LIMITS for filing a CHAPTER 13 BANKRUPTCY?

In order to qualify for a Chapter 13 Bankruptcy you are limited by the amount of your debt obligations by class: secured and unsecured.

You can have up to $1,081,400 in secured debt and still file a Chapter 13 Bankruptcy in Michigan.

You can have up to $360,475 in unsecured debt and still file a Chapter 13 Bankruptcy in Michigan.

If you exceed either one of these debt limitations – you will be forced to file a Chapter 11 Bankruptcy – just like NFL Quarterback Michael Vick.

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