• Free Bankruptcy


    Start on the road to financial freedom; contact us today for a free evaluation.

    Start Now
  • Read What Our

    Clients Are Saying

    Our results speak for themselves; see what our clients are saying.

    Read More
  • Seven Convenient


    We have many locations to serve you, click here to find your nearest location.

    Contact Us
  • Meet Our


    Our team has 30+ years of experience. Get an experienced team on your side.

    Click Here

How Much Debt Qualifies Me for Bankruptcy?

There is no set amount of debt you need before you can file for bankruptcy. Every person's financial situation is unique. Schedule a consult with a bankruptcy lawyer, and bring your financial documents. Your attorney will need to assess your average monthly income, assets, and debts before giving you personalized legal advice.

One of the reasons why there is no set amount of qualifying debt is that people have varying concepts of "significant" versus "insignificant" debt. A person who earns $20,000 per year would likely consider a $4,500 credit card bill to be unpayable, whereas a person who earns $400,000 per year would consider that same debt to be minor. In general, bankruptcy may be recommended for an individual who has an amount of debt that would be very difficult or impossible to pay off.

Cutler & Associates, Ltd. is a bankruptcy law firm with a longstanding commitment to providing personalized guidance and attentive service to each of our clients. Call (847) 961-4572 to request a bankruptcy consultation at our office in Schaumburg.

FREE Bankruptcy Evaluation

Fill out the form below and one of our experienced attorneys will get in touch with you immediately.