Do I have enough or too much debt for Bankruptcy?

The short answer is if you have debt you have enough and you don't have too much.  In an overwhelming percentage of cases individuals can qualify for some form of bankruptcy.  

I have noticed that a significant percentage of my page traffic results from people attempting to find the answer to some variant of this question. “How much debt do I need to have to file Bankruptcy?” Sometimes it is phrased differently.  They may ask "Is $10,000 in debt enough to file bankruptcy?"  Or they may even ask if $100,000 dollars is too much to file bankruptcy.  It could literally be all sorts of variants on this theme.  In the end though it all amounts to “Should I file?”  or given my situation is bankruptcy a good idea for me?

This is the fundamental question that my book “Should I File: A Definitive Guide to Bankruptcy” attempts to answer and for that reason I think these people would be well advised to take a look at it.  It can be bought by clicking various links on this site or just by going to Amazon and typing it in.

For those of you who aren't sure if you want to buy the book I did address this issue briefly in a previous post entitled “Ok, But do I Qualify? This post answers the basic question of whether or not you qualify. 

Additionally you might want to consider whether or not Bankruptcy is right for you and your circumstances. 

A consult with a qualified bankruptcy attorney should help you to resolve this issue but keep in mind they make money by filing bankruptcies and therefore some of them may be more interested in talking you into filing than actually steering you in the right direction.  I have known many good bankruptcy attorneys but I have also known some that were less than scrupulous.  Be careful when selecting one.  The best thing you can do is educate yourself in advance.  Keep reading this site, consider buying the book which at fifteen dollars is a lot cheaper than being talked into a bankruptcy you don’t need.  

The book will help you avoid making a rash decision and will also help you select a good attorney if you determine that bankruptcy is the right choice for you. 

Bankruptcy can help but it can also be painful particularly if it is not handled competently so make sure its the right choice for you and that you have quality legal assistance before jumping right in.