Notice of Revised Automatic Adjustments to Dollar Amounts

Release Date: 
Monday, March 8, 2004

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NOTICE OF AMENDED FORMS AND AUTOMATIC ADJUSTMENTS TO DOLLAR AMOUNTS

On April 1, 2004, automatic adjustments to the dollar amounts stated in various provisions of the Bankruptcy Code, Title 11 U.S.C., will become effective. The dollar amounts will apply to cases filed on or after April 1, 2004.

These amended dollar amounts will affect the eligibility of a debtor to file under Chapter 13 of the Bankruptcy Code, certain maximum values of property that a debtor may claim as exempt, the maximum amount of certain claims entitled to priority, the minimum aggregate value of claims needed to commence an involuntary bankruptcy, and the value of “luxury goods and services” deemed to be nondischargeable. The relevant provisions are codified in 11 U. S. C. §104(b) of the Bankruptcy Code.

Two of the Official Bankruptcy Forms contain reference to several of the affected dollar amounts. Accordingly, Official Form 6E, Schedule of Creditors Holding Claims Entitled to Priority, and Official Form 10, Proof of Claim, will also be amended April 1, 2004, and will apply to cases filed on or after that date.

A chart showing the affected sections of the Bankruptcy Code and both the current and the revised dollar amount in those sections is available at the intake counter in all three court locations and on the court’s web site at www.mieb.uscourts.gov.