Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
With a Chapter 7 debts can be discharged without having to pay anything. If a debtor makes too much money, that debtor cannot file a Chapter 7, but they might be able to file a Chapter 13, where the debtor has to make payments every month for up to 5 years.
Given the information you provided, you do qualify to file a Chapter 7, as your income is low enough, and there are no limitations on the amount of debt you can have (there is only a limit for a Chapter 13).
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