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Can there be a minimal amount of cash that i must owe to register bankruptcy?

Can there be a minimal amount of cash that i must owe to register bankruptcy?

Brief Response: No. The U.S. Bankruptcy Code will not lay out any minimum sum of money that you need to owe or be with debt, before filing for bankruptcy.

That said, in the event that you owe so small as you are able to easily manage to repay it, in addition to U.S. Trustee’s workplace or a creditor objected or filed a movement to dismiss your instance, then yes, your situation might be dismissed for “abuse” regarding the bankruptcy rules.

But then there is no reason why you could not obtain a discharge or cancellation of your debts through bankruptcy, assuming that you otherwise qualify for it if you are unable to pay your debts, even though it is not a large amount of money owed. Continue reading Can there be a minimal amount of cash that i must owe to register bankruptcy?