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More than they can pay

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โˆ™ 2011-05-01 01:25:16
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Q: What is the average amount of debt do people have when they file bankruptcy?
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Do you have to have a certain amount of debt to file for bankruptcy?

Yes. Though the amount has to be quite large. For example: A $10,000 debt would not be a proper amount of money to be considered filed for bankruptcy.

How in debt do you have to be to file bankruptcy?

There is no limit to the debt you owe for filing bankruptcy. Chapter 13 may not be available if you owe a large amount. Since the amount changes from time to time, you will have to look it up on your bankruptcy court's website.

Is Debt Settlement easier than bankruptcy?

It depends on the amount you in your debt. If your debt is a large sum and figure, the best and most ideal thing would be to declare bankruptcy. If not debt settlement would be much easier.

How much debt can you have before filing for bankruptcy?

There's no maximum amount. If you can't make your payments you file bankruptcy.

Is there a minimum dollar amount that a court will consider for filing bankruptcy?

No. The amount of debt versus the ability to pay may factor in what type of bankruptcy will be accepted by the court.

Are you liable for debt cancelled in bankruptcy?

No you are not, If you deglared bankruptcy, that cancels your debt

When can bankruptcy be filed?

If you or your business has incurred a substantial amount of financial debt due to circumstances that were out of your control you may be eligible to file bankruptcy.

Which of these about bankruptcy is false A amount of debt is less than the income earned B after bankruptcy you can't get credit for 10 years C everything you own goes into bankruptcy D All of these?

ALL of these are false: A amount of debt is less than the income earned B after bankruptcy you can't get credit for 10 years C everything you own goes into bankruptcy

Can a debt collector demand payment for an amount that has been included in a chapter thirteen bankruptcy?

If bankruptcy is over and the debt was discharged, they creditor is forever barred from taking any action to collect the debt. If the bankruptcy is still pending, the debtor cannot contact you without permission from the bankruptcy court. In either case, you may have a claim for damages against the debt collector.

Is debt settlement a good choice?

AnswerDebt settlement helps you in reducing your debt amount significantly, the debt settlement company negotiates with your creditors to reduce your debt amount. It is a better option than filing bankruptcy. I took help of Freedom Debt Relief and their debt reduction program helped me in reducing my debt amount.

How many people file bankruptcy due to medical costs?

Tons and Tons. Many hard working people are driven to Bankruptcy due to overwhelming medical debt. This is an unknown amount as this would be listed as an outstanding balance rather than a specific reason, medical costs like any other unsecured debt "could" be one of the reasons people do apply for bankruptcy

Loans After Bankruptcy ?

form_title=Loans After Bankruptcy form_header=Have you filed for bankruptcy? Find a lender willing to approve a loan for those who have had past bankruptcy. Desired Loan Type?*= _Please Describe[50] Do you need a financial advisor to help get you out of debt?*= () Yes () No Total Debt Amount?*= _Enter Amount[50] Credit Rank?*= {Poor, Fair, Good, Very Good, Excellent}

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