Is there a minimum debt requirement for Chapter 7 bankruptcy?

While there is no minimum amount of debt required to file for bankruptcy, it may or may not make sense if you don't have "a lot" of debt, which is- of course- all relative.  Be sure to discuss with your bankruptcy lawyer all of your reasons for considering a filing, and seek individualized legal advice based on your situation and your goals, before making any decisions.

 

Carol O'Connor Cadiz
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Attorney & Owner at O'Connor Cadiz Law: Bankruptcy, Injury, Real Estate & Mediation