answersLogoWhite

0


Best Answer

There is no statutory amount needed to file bankruptcy. With the new bankruptcy reform it may be difficult to file a Chapter 7 if the person has even a small amount of expendable/nonexempt assets. One of the objectives of the new BK regs. is to require more debtors to file a Chapter 13 rather than a 7.

User Avatar

Wiki User

19y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: How much do you have to owe to file chapter 7?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Can you keep your house and car if you file chapter 7?

Sometimes. It depends on the value(s) of the home and car and how much money you owe on them if any.


If you owe money on your car will it be taken if you file chapter 7?

No, you can reaffirm it and continue to pay your obligation.


Can you keep your home if you file chapter 7 bankruptcy and owe more on your second mortgage than the first?

yes


In Kentucky How long after bankruptcy can you file chapter 7 and can you file chapter 13 after chapter 7?

You can file bankruptcy again 7 years after the last time you filed.


Can you file again if you filed in may 2005 on chapter 7?

You can file a chapter 13 bk, but NOT another chapter 7.


How long do you have to be unemployed to file chapter 7?

You do not have to be unemployed to file bankruptcy.


When can you file a chapter 7 bankruptcy if you had a chapter 7 discharged in December 2001?

The bankruptcy petitioner can file another chapter 7 8 years after the date of filing of a previous chapter 7.


Can you file chapter 7 bankruptcy now after filing in July 2004?

A person can file chapter 7 after 8 years from a previous chapter 7. So the answer is NO.


How soon after filing for a Chapter 7 Bankruptcy can you file another?

if your still in chapter 7 you have to get out first but you can file again check the laws in you state on chapter 7. laws has chang.


Refile chapter 7?

How soon after filing Chapter 7 Bankruptcy, can you file either Chapter 13 or Chapter 7 Banruptcy again?


You have huge debt medium income do not want chapter 13 will divorce let us file chapter 7?

Divorce will not affect filing chapter 7. If the divorce is final, you will have to file separate chapter 7s. If the divorce is not final, or has not happened, you can file a joint chapter 7.


I need to know how to file bankruptcy.?

You need to contact a bankruptcy lawyer since you need to have one to file. Which chapter depends on how much money you have, you may not qualify for chapter 7 if you have too much money.