How Much Do You Have To Be In Debt To File Chapter 7
If you're considering filing for Chapter 7 bankruptcy, you may be wondering how much debt you need to have before you qualify. The answer is that there is no set amount of debt required. But there are certain criteria that must be met in order for your petition to be approved.
In order to file for Chapter 7 bankruptcy, your debts must meet the following criteria:
1. They must be unsecured debts. This means they are not attached to any property, such as a house or car. Examples of unsecured debts include credit card bills and medical bills.
2. The total amount of your debts must exceed a certain threshold. This threshold varies from state to state, but it is typically around $10,000.
3. You must not have filed for bankruptcy within the last eight years.
The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you to 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