How much debt do i need to file Chapter 7?

There is no minimum debt requirement to file; however, there are factors that may be relevant about whether you should file Chapter 7.

Is there a debt limit to file chapter 7?

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. Call or click for a free consultation with an attorney in ElizabethtonJohnson City, Kingsport, and surrounding areas in Tennessee to determine whether filing bankruptcy is in your interest based on the amount of debt you have.

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