This-Is-A-Common-Question-Asked-Of-Us-All-The-Time136
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This-Is-A-Common-Question-Asked-Of-Us-All-The-Time136

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This-Is-A-Common-Question-Asked-Of-Us-All-The-Time136 This-Is-A-Common-Question-Asked-Of-Us-All-The-Time136 Document Transcript

  • This is a common question asked of us all the time. The answer is simple: There is nominimum amount you need to file bankruptcy. Theoretically, if you have only $1.00 in debt, you can file. Of course, you would never do this on only $1.00 in debt.
  • However, there is a maximum amount you can have if you file a Chapter13 If you have more than $360,475 in unsecured debt and more than$1,081,400 in secured debt, you cannot file a Chapter 13 and must file achapter 11
  • There are absolutely no debt limits to file a Chapter 7! So, you do nothave to worry if you do not have "enough" debt to file bankruptcy Themore proper question to ask yourself is, "can I manage the debt I have?"or "how quickly can I be debt free by not filing bankruptcy?" You need tolook at your debt load and what affect it is having on your finances
  • If you file a Chapter 7, you can only file it once every eight (8) years, soyou need to decide if this time in your life is right to file A person earning$30,000 a year, but has$10,000 in debt is in a worse financial positionthat someone earning $60,000 and having the same debt
  • The better question to ask is if bankruptcy is right for you at this point intime This is where your Detroit Bankruptcy Lawyers can help you inanswering this question
  • Call us today at (586) 439-4297, Extension 0, and set up your freeconsultation We will analyze you financial situation and give you ouradvice on your financial situation
  • If bankruptcy is not an option for you, or bankruptcy is not right for you,we will tell you It is a firm belief to never put anyone in bankruptcy unlessit is absolutely necessary for them to be there