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How Much Debt Do I Need To File for Chapter 7 Bankruptcy?

When it comes to filing for Chapter 7 Bankruptcy, the amount of debt you need to qualify is an important question. In order to file for Chapter 7 Bankruptcy, you must have a certain level of unsecured debt. Unsecured debt includes things like credit card bills and medical bills. The amount of unsecured debt that is needed to qualify varies from state-to-state, but generally speaking it must be at least $15,000 or above in most states. This will allow you to take advantage of the bankruptcy process by having your non-exempt assets liquidated by a trustee and used towards paying off some or all of your debts.

It’s important to note that if you have secured debts such as mortgages or car loans, these are not eligible for discharge under Chapter 7 Bankruptcy.

The Law Offices of Omar Zambrano has helped thousands of people and businesses on the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706

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