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Is there a certain amount of debt needed to file for bankruptcy?

April 26, 2017Bankruptcy certain debt file needed

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Is there a certain amount of debt needed to file for bankruptcy?

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10 Posted

No, there is no minimum amount of debt required to file bankruptcy. However, in most cases, someone who files owes considerably more than they can pay. In certain situations, a person’s debt amount may be so low that it doesn’t necessitate filing for bankruptcy.