{"id":3625,"date":"2010-09-16T02:33:13","date_gmt":"2010-09-16T02:33:13","guid":{"rendered":"http:\/\/www.duncanlawonline.com\/?p=3625"},"modified":"2010-09-16T02:33:13","modified_gmt":"2010-09-16T02:33:13","slug":"limit-amount-debt-file-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.duncanlawonline.com\/staging\/8350\/limit-amount-debt-file-bankruptcy\/","title":{"rendered":"How Much Debt Can I Have When I File for Bankruptcy?"},"content":{"rendered":"<p>[youtube]http:\/\/www.youtube.com\/watch?v=0JKDwQe-6oU[\/youtube] <\/p>\n<div style=margin-bottom:2em;><span style=display:none;>.<\/span><\/div>\n<p>Every potential bankruptcy client has a different amount of debt owed. Even the type of debt varies from debtor to debtor \u2013 some debtors have almost all credit card debt, while others may have almost all medical bills. A common question that potential bankruptcy clients have is whether their bankruptcy will be denied by the Court if they owe \u201ctoo much money.\u201d<\/p>\n<p>For potential <a title=\"Chapter 7 Bankruptcy Information\" href=\"https:\/\/www.duncanlawonline.com\/bankruptcy\/bankruptcy-types\/chapter-7-bankruptcy\/\" target=\"_self\">Chapter 7 bankruptcy<\/a> clients, there is not a specific limit to the amount of debt that can be owed. However, the Bankruptcy Court will always do an analysis in each case to examine the amount of household income in relation to the amount and type of debt owed to ensure that the debtor is not abusing the bankruptcy system.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-full wp-image-3626\" title=\"Bankruptcy Information\" src=\"https:\/\/www.duncanlawonline.com\/wp-content\/uploads\/2010\/09\/Question-Mark-Man1.jpg\" alt=\"Bankruptcy Information\" width=\"278\" height=\"277\" \/>For potential <a title=\"Chapter 13 Bankruptcy Information\" href=\"https:\/\/www.duncanlawonline.com\/bankruptcy\/bankruptcy-types\/chapter-13-bankruptcy\/\" target=\"_self\">Chapter 13 bankruptcy<\/a> clients, there are some limitations to the amount of debt that is allowed. Under Section <a title=\"U.S. Bankruptcy Code\" href=\"http:\/\/www.law.cornell.edu\/uscode\/11\/usc_sec_11_00000109----000-.html\" target=\"_blank\">109(e) of the Bankruptcy Code<\/a> (also known as the federal bankruptcy laws), an individual with regular income cannot owe more than $250,000.00 in unsecured debt and $750,000.00 in secured debt. In some bankruptcy courts, the bankruptcy Judge will hold a hearing for confirmation of your Chapter 13 Plan if there is more than $100,000.00 in consumer debt (credit cards and personal loans). These limitations are set to ensure that the debtor is not abusing the bankruptcy laws.<\/p>\n<p>One way to avoid having issues with the amount of debt you owe is to stop using your credit cards as soon as you consider filing bankruptcy. In some cases, the Court may ask you when the last time you used your credit cards was. The Court asks this question to make sure that you did not run up your credit card charges immediately before filing bankruptcy.<\/p>\n<p>You should contact a <a title=\"Charlotte, NC Bankruptcy Attorney\" href=\"https:\/\/www.duncanlawonline.com\/bankruptcy\/charlotte-bankruptcy-lawyer\/\" target=\"_self\">Charlotte bankruptcy attorney<\/a> or <a title=\"Greensboro, NC Bankruptcy Lawyer\" href=\"https:\/\/www.duncanlawonline.com\/bankruptcy\/greensboro-bankruptcy-lawyer\/\" target=\"_self\">Greensboro bankruptcy lawyer<\/a> to get a more specific analysis of your own situation, but you can use these general guidelines to prepare yourself for whether or not the court will deny your bankruptcy if you owe \u201ctoo much money.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[youtube]http:\/\/www.youtube.com\/watch?v=0JKDwQe-6oU[\/youtube] . Every potential bankruptcy client has a different amount of debt owed. Even the type of debt varies from debtor to debtor \u2013 some debtors have almost all credit card debt, while others may have almost all medical bills. A common question that potential bankruptcy clients have is whether their bankruptcy will be denied &#8230; <a title=\"How Much Debt Can I Have When I File for Bankruptcy?\" class=\"read-more\" href=\"https:\/\/www.duncanlawonline.com\/staging\/8350\/limit-amount-debt-file-bankruptcy\/\" aria-label=\"Read more about How Much Debt Can I Have When I File for Bankruptcy?\">Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,7,8,10],"tags":[],"class_list":["post-3625","post","type-post","status-publish","format-standard","hentry","category-bankruptcy","category-chapter-13","category-chapter-7-2","category-duncan-law-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How Much Debt Can I Have When I File for Bankruptcy? | Duncan Law<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.duncanlawonline.com\/staging\/8350\/limit-amount-debt-file-bankruptcy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Much Debt Can I Have When I File for Bankruptcy?\" \/>\n<meta property=\"og:description\" content=\"[youtube]http:\/\/www.youtube.com\/watch?v=0JKDwQe-6oU[\/youtube] . 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