Chapter modifications coming in 2025 confer with the modifications to the chapter code that can take impact in 2025. These modifications are designed to make the chapter course of extra environment friendly and efficient for each debtors and collectors.
Probably the most vital modifications is the rise within the homestead exemption. Which means debtors will be capable of shield extra of their dwelling fairness in chapter. The homestead exemption will improve from $25,150 to $40,000 for single filers and from $50,300 to $80,000 for married {couples} submitting collectively.
