15,325 Really?!?!

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  • July 16, 2014 at 8:31 pm #187016
    Anonymous
    Inactive

    15,325 15,325 15,325

    “If a debtor has fewer than 12 creditors, any one or more of them with unsecured and undisputed claims that aggregate at least $15,325 more than the value of any collateral securing the claim may file the petition.”

    Why?

    Why, given the nature of this figure couldn’t they pick something that was at least in an increment of 1,000?

    I’m sure that there was some logic and perhaps even a complicated algorithm that went into choosing this number and I respect that, but where is the human to say “yeah that’s a pretty good range, let’s call it 15,000 to make it sensible.” Who out there gives a **** about $325 in this circumstance? Nobody that’s who, it is absolutely immaterial. I feel somewhat less furious. Thanks for reading, and I hope that this helps me and some of you remember this lovely nuance on test day.

Viewing 6 replies - 1 through 6 (of 6 total)
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  • July 16, 2014 at 8:45 pm #581340
    silverdice7
    Member

    It's sad I knew exactly what that number was before I entered the thread

    AUD 94
    BEC 91
    REG 88
    FAR 91

    Done!

    July 16, 2014 at 8:45 pm #581341
    taxgeek83
    Participant

    It's tied to the CPI:

    https://www.law.cornell.edu/uscode/text/11/104

    July 16, 2014 at 9:01 pm #581342
    Anonymous
    Inactive

    That's how I feel about most amounts in REG. Bleh!

    July 16, 2014 at 9:33 pm #581343
    ykim32
    Participant

    I assumed that the exact number is $14,425 for 2013. Was it changed for 2014?

    July 16, 2014 at 9:50 pm #581344
    Anonymous
    Inactive

    Yes. It changed for 2014.

    July 17, 2014 at 2:27 am #581345
    Anonymous
    Inactive

    I have to laugh at this post because that magic number saved me a ton of money a few years ago. I had a bunch of medical bills and at the time I didn't have health insurance. All of the doctors and the hospital knew that I didn't have insurance. They were total jerks about the bills and setting up payment arrangements that I could live with and still afford to eat. Once the final bill came in and I hit that magic number, they all changed their tunes so fast it scared me. It took me a while to figure out why they were all so willing to take pennies on the dollar.

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