Legal Question in Bankruptcy in California
bankruptcy
how much $$ do you need to be in debt to file bankruptcy? i have a lot of bills and debt, i have a good job and make about $50000 a year but still cant make it.
Asked on 6/23/08, 12:59 pm
2 Answers from Attorneys
Robert F. Cohen
Law Office of Robert F. Cohen
Re: bankruptcy
The amount of your debt is not as significant (in terms of qualification) as are your income, regular expenses, and income history. Feel free to contact me directly by e-mail with specifics.
Answered on 6/23/08, 1:39 pm
Robert Mccoy
Law Office Of Robert McCoy
Re: bankruptcy
If you are going to file a chapter 7 you need to owe between $0.00 and infinity. If you are going to file a Chapter 13 bankruptcy, you may not owe more than approximately $300k unsecured debt and approximately $1,000,000 secured debt.
Answered on 6/23/08, 7:56 pm
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