I get this question a lot - people want to know if there is a minimum amount of debt they need to have in order to file bankruptcy. My answer is always the same - it's all relative. What I mean is that $10,000 of credit card debt may be enough for one person to file, but not enough for someone else. It all depends on the resources that someone has to get out of debt.
And by resources, I don't just mean income. Sometimes people have assets that they can sell and then go to their creditors with a settlement. Or, maybe the only debt a person has is so old that the Statute of Limitations has run out and they can't be sued on the debt. In that case, they have legal resources available to avoid bankruptcy to handle their debt.
For more Oregon and Washington bankruptcy information, or to learn more about our firm visit www.pacificbankruptcy.com. We practice Chapter 7 and Chapter 13 consumer bankruptcy and have helped thousands of people realize their dreams of living debt free.