IF YOUR DEBT EXCEEDS A CERTAIN LEVEL YOU CANNOT FILE A CHAPTER 13 BANKRUPTCY
Even though Chapter 13 is the best or only solution for you from a bankruptcy standpoint, you might not be qualified to file a Chapter 13 bankruptcy because of the debt limits.As of April 1, 2016, a debtor cannot have more than $1,184,200.00 in non-contingent, liquidated secured debt and $394,725 in non-contingent, liquidated unsecured debt. If you owe more than these amounts you can only file a Chapter 7 or Chapter 11mbankruptcy.
Please give me a call at (800) 867-1583 if you are considering bankruptcy.
As always, any opinions expressed on this website are just that, opinions. Your individual situation might be different than outlined above, so it is probably best that you give me a call to discuss your individual situation. I pride myself on giving you the answers to your questions that are based on your individual circumstances.