AI bots are now making it possible for debt collection agencies to go after even the smallest possible lawsuits, whether or not they are valid debts or not. Tens of thousands of such lawsuits are being filed by AI bots nationwide, affecting poor people everywhere, according to a report by Wired Magazine. The goal of […]
California Exemption Changes Effective 2023
California Exemption Changes CALIFORNIA S.B.1099: Signed into law on September 28, 2022. The bill goes into effect January 1, 2023. Highlights include: “Ride through” option restored for vehicles (no more repos for failure to reaffirm). Homes protected from trustees selling them due to post-petition appreciation where had been fully protected by the homestead exemption on […]
State Median Incomes to Increase 7.4% for Bankruptcy Means Test on April 1, 2023
More People Will Qualify for Chapter 7 Bankruptcy as of April 1, 2023 The Department of Justice has released its revised median income amounts for the bankruptcy means test, to take effect April 1, 2023. LegalConsumer.com has taken this data and turned it into a handy, clickable map. Click on your state or county and […]
Michigan Bankruptcy Exemption Limits to Increase by 14% April 1, 2023
Michigan adjusts its exemptions for inflation every three years. The revised 2023 amounts were published by the Michigan Department of the Treasury on January 25, 2023. They apply to cases filed on or after April 1, 2023, and are summarized here. The total increase for the period is 13.96% Michigan Bankruptcy Exemptions Inflation Adjustments 2023
Electronic Filing for Self-Represented Bankruptcy Debtors Continues to Spread Nationwide
More and more federal bankruptcy courts are offering debtors the means to file bankruptcy electronically without needing a lawyer or online service. These programs are spreading each year. Ask your local court if they plan to offer such services in the future. Some districts offer step-by-step interactive interviews, while others simply provide ways to upload […]
Updated Bankruptcy Exemption Amounts for 2023
LegalConsumer has published updated inflation-adjusted state exemption amounts for 2022-2023. Several states update their exemption amounts for inflation. Some states increase every even year, like Minnesota, South Carolina, and Alaska, while others change every three years, like New York, California, Ohio, and Michigan. Still, others change every year, like the Arizona Homestead Exemption, the Montana […]
Arizona Homestead increased to $400,000 by Prop 209
December 5, 2022, Arizona increased the state’s homestead exemption from $250,000 to $400,000, the exemption in bank accounts from $300 to $5,000, both the vehicle and household goods exemptions from $6,000 to $15,000, and the garnishment protection to 90% of disposable wages or 60 times the highest minimum wage in the state, whichever is greater. […]