How much money do you have to owe to file bankruptcy

Asked over 5 years ago - Denver, CO

How much money do you have to owe to file bankruptacy?

Attorney answers (1)

  1. John H Barrett

    Contributor Level 13

    Answered . There is no minimum amount required by law. Bankruptcy is an appropiate option to consider if your debt is so high that you cannot realistically pay it with your income level and if you have little or few assets. Debt which exceeds 1 year's income certainly qualtifies.

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