On April 1, 2007, the bankruptcy figures used by the federal government will be adjusted for inflation. This means not only that the federal bankruptcy exemptions -- which determine how much property you get to keep if you file for Chapter 7 bankruptcy -- will increase, but also that the other dollar amounts appearing in the federal bankruptcy law will change.

Here are a few of the changes:

• Debt limits for using Chapter 13 will increase: Filers may now have up to $1,010,650 in secured debt and up to $336,900 in unsecured debt. (The previous limits were $922,975 and $307,675, respectively.) (For more information, see "Are You Eligible for Chapter 13 Bankruptcy?")
• The federal homestead exemption will increase from $18,450 to $20,200.
• The federal exemption for vehicles will increase from $2,950 to $3,225.
• The limits used in the "means test" to determine eligibility to use Chapter 7 will increase: Filers who have less than $6,575 in disposable income will now pass the means test (the previous threshold was $6,000), and those who have more than $10,950 (previously 10,000) in disposable income will not be able to use Chapter 7. (For more on the means test, see "The Means Test: Is Your Income Low Enough for Chapter 7 Bankruptcy?")

Other amounts have changed as well. To see the complete list, see this page of the Federal Register, which can be found on the website of the Government Printing Office.

• How to File for Chapter 7 Bankruptcy