Is there minimum amount of debt required for bankruptcy? 6 Answers as of October 26, 2010

I want to know if I have enough debt to merit filing for Chapter 7 bankruptcy.

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The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
It is whatever amount makes it worth filing bankruptcy to you, factoring in the costs of filing, etc. There is no minimum amount of debt.
Answer Applies to: California
Replied: 10/26/2010
Diana K. Zilko, Attorney at Law
Diana K. Zilko, Attorney at Law | Diana K. Zilko
There is no minimum debt requirement. However, usually after a discussion of income, debts, and future plans, you can determine if bankruptcy is the best course of action.
Answer Applies to: California
Replied: 10/26/2010
Law Office of David P. Farrell
Law Office of David P. Farrell | David Farrell
There is no minimum debt requirement to file chapter 7. There is, however, debt limitations for relief under Chapter 13.
Answer Applies to: California
Replied: 10/26/2010
Greifendorff Law Offices, PC
Greifendorff Law Offices, PC | Christine Wilton
There is no minimum. However, the debt should be greater than the cost of filing for bankruptcy.
Answer Applies to: California
Replied: 10/26/2010
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
I would say about $5000.
Answer Applies to: California
Replied: 10/25/2010
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