Legal Question in Bankruptcy in Ohio

Amount of debt required to file bankruptcy

I am divorcing and after all of the assets and debts are split among my husband and I, I will have approx. $25,000 of credit card debt. A friend of mine, who filed jointly with her husband in 1996, told me that I have to be atleast $35,000 in debt in order to file bankruptcy. Is this true?


Asked on 5/07/04, 11:48 am

1 Answer from Attorneys
Steven Schiller Steven L. Schiller, Attorney at Law

Re: Amount of debt required to file bankruptcy

There is no such minimum debt requirement. If, based on your income vs. expenses, or based upon your amount of assets, you are unable to repay the debt, you can file bankruptcy. If you have any additional questions, feel free to contact me at 513-621-2201 (Cincinnati ofc.)

Read more
Answered on 5/07/04, 12:01 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in Ohio