Is there a Minimum Amount of Debt You Need to File Bankruptcy

There is no minimum amount of debt you must have to file for #bankruptcy. In theory you could file a bankruptcy to discharge a few hundred or a few thousands of dollars of debt.
As I discuss in this video, however, I usually discourage clients from filing bankruptcy unless their total debt is $30,000 or more.
Bankruptcy is no longer an inexpensive option. Congress and the courts regularly change the official bankruptcy forms, and modify the laws. In the late 1980's for example, the filing fee for Chapter 7 was $60 and most attorneys charged around $500 for a #Chapter7. In 2018, the filing fee alone is over $300 and attorneys fees will be in the $1,500 territory for even a simple case.
#Bankruptcypetitions used to be about 25 pages, now they are close to 100. I don’t think any of this added complexity has helped reduce fraud and, in my view, the net effect has been to make it more difficult for struggling consumers to obtain #bankruptcyprotection.
What do you think? Is there a minimum amount of debt you would need to consider filing for bankruptcy? Leave your comments below. #atlantabankruptcyattorney #chapter13atlanta #chapter7atlanta #costtofilebankruptcy #simplebankruptcy #howtofilebankruptcy
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[@marilynmarcelli270]

Thanks You, this definitely cleared up some questions I had!

[@adantorres1734]

What if your like 15000 in debt

[@srirachahero4679]

It’s expensive to be broke in America :-\

[@annthrockmorton7658]

Federal employees who are not being paid might consider preparing to file for personal bankruptcy. Perhaps when the nation's financial institutions begin to share the loss, will demands -- that matter -- be made to WDC to end the #Shutdown.

[@atlantabankruptcy]

Good points.

[@mykitti2015]

It sounds like you are a rip off attorney point blank.

[@atlantabankruptcy]

And why would you make such a nasty comment?

[@marilynmarcelli270]

Personal Bankruptcy Law Atlanta I would would say honest. Makes good sense
Good information!

[@chrisconsorte7893]

You aren’t a rip off attorney.