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Line 1B, Declaration of Non-Consumer Debts

New Form B 122A-1Supp, Line 1

  • Less than 50% of total scheduled debt was incurred for personal, household or family purposes.
  • Purpose of debt is judged at the time the debt was incurred.
  • Home mortgages are typically consumer debt.
  • Most tax debts are not typically consumer debt.

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Jurisdictional relevance: US

Legal Consumer - Cherokee County, OKLaw. The content of this article pertains to all US states and counties.