How much debt do you have to have to declear bankrupy?

Answer 1

There is not one type of amount one can discharge, but the rule of thumb is 1 half of your yearly salary, for instance if you made 30,000 last year and you lost your job. You can dischagre 15,000 or more+, that is the most sensible rule of thumb, anything under will only hurt if you have the ablity to repay the debt. There is not one type of amount one can discharge, but the rule of thumb is 1 half of your yearly salary, for instance if you made 30,000 last year and you lost your job. You can dischagre 15,000 or more+, that is the most sensible rule of thumb, anything under will only hurt if you have the ablity to repay the debt.