There is no minimum amount of debt to file Chapter 7 Bankruptcy. Some individuals file with as little as $3,000 of debt. Sometimes the main consideration on whether to file bankruptcy on a debt is the type of debt. A debt from a finance company with a high rate of interest may snowball out of control so it can be a good right to combat these predatory lenders.
Whether you should file bankruptcy also depends on the attorney’s fees to file. If you file with an affordable bankruptcy lawyer
, it can be worthwhile to file on a few thousand dollars worth of debt.
for a free consultation with an attorney in Elizabethton
, Johnson City
, and surrounding areas in Tennessee
to determine whether filing bankruptcy is in your interest based on the amount of debt you have.