To Little Debt To Discharge?
I got a call from a collector who told me that in California my chapter 7 petition would be dismissed because the total amount of my debt is only $5500. could this be true? My income is less than $300 a month, and i have no assets. Seems to me it will be a straightforward no asset case. anybody know?
Answer:
Honestly, I don't see the point in declaring bankruptcy for a total debt of $5500. Seems like a waste. Having said that, however, (note, IANAL) it seems to me that the bill collector is full of it, and is just trying to scare you into setting up payment arrangements with them. Remember, they get paid only when they collect a debt, so it's in their best interest to lie, cheat, and otherwise bullshit their targets so that they pay up. This is wrong. There is no minimum amount of debt required to file for bankruptcy.
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