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Bankruptcy

How Much Debt Do I Need To File Bankruptcy

If you are wondering how much debt you have to be in to file for bankruptcy, you should know that there is no minimum set amount. In order to determine if you should file for bankruptcy, you should consider how much income you have and if you can afford to pay back your debts.

Chapter 7 bankruptcy in Staten Island

The bankruptcy Means Test in New York allows only people who are under a certain income limit and truly need the relief of a Chapter 7 to file. To pass the Chapter 7 Means Test, you must fall under the median income for a household of the same size in New York.

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How Can I Get Rid of My Debt?

If you are looking for ways to get out of debt consider filing bankruptcy. Bankruptcy can eliminate your debt and help you start over.