How far in debt to file for bankruptcy? 5 Answers as of October 02, 2010

How far in debt do you have to be in order to file for bankruptcy?

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Law Office of Barbara Seeley Curtis
Law Office of Barbara Seeley Curtis | Barbara Curtis
Please call for an apt. There is no lower limit for debts in bankruptcy. It is not worth it for less than $5000 in my opinion because of the cost.
Answer Applies to: Florida
Replied: 10/2/2010
Southern California Law Advocates
Southern California Law Advocates | Norma Duenas
There is no specific amount that is required for you to file for bankruptcy. There is no minimum amount of debt that you need in order to file for bankruptcy. Whether you should file for bankruptcy is based on looking at your financial circumstances and determining whether you qualify and whether it is the best option for you given your circumstances.
Answer Applies to: California
Replied: 10/1/2010
The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
Far enough that it is worthwhile for you to utilize bankruptcy to give you a fresh start. Completely depends on your personal situation.
Answer Applies to: California
Replied: 10/1/2010
Sussman & Associates
Sussman & Associates | Mitchell Sussman
There is no debt minimum.
Answer Applies to: California
Replied: 10/1/2010
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
Depends on your income and assets but generally you need at least $5000 - $7500 of debt to file.
Answer Applies to: California
Replied: 10/1/2010
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