Legal Question in Bankruptcy in Pennsylvania

Re: Guidelines

You are essentially asking if you have enough debt to necessitate or qualify for a bankruptcy filing. Right now, the Bankruptcy Code does not require a minimum amount of debt and currently there are no limitations to the amount of monthly income you can receive. Many people have the impression that they must be destitute in order to "qualify" for bankruptcy. This is not the case. If your income is high enough that it exceeds your necessary monthly expenses (not including payments on credit cards)substantially then you would probably need to file under Chapter 13 instead of Chapter 7 and repay a portion of your debts. I don't know your particular situation but I would guess your monthly income is not high enough to warrant a Chapter 13 filing. You would file for a complete "discharge" under Chapter 7. Please call me to discuss the your particular situation in greater detail. ph. (800) 303-0720 or (214) 979-7330