Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.
There is no minimum amount of debt needed to file the case, just a matter of whether it is worth it to file for that amount.
Generally, most people have $5000 or more in debt
You must list down all assets and all debts in the case, regardless of your intentions
You can mark that you want to keep the house and/or car note, for instance.
You would reaffirm this debt by signing a reaffirmation agreement during the case to let the debt survive so you can keep the asset
All debts are included - credit cards, medical bills,etc. but you don't have to list down current utilities if you pay them in full each month. Basically you'd list everything that has a balance
Ok ....good to know... the problem is I am being sued for an accident I was involved with in October 2009. Just got served papers on November 1st. I am concerned because my husband and I live paycheck to paycheck no savings whatsoever but we do own our home. How can they sue someone if we have no money. Should I file to save my home?
Yes, you would list that accident down, even if the amount is unknown, or your liability has yet to be determined. Better to be safe than sorry. The case must stop instantly once you file the bankruptcy case. (although they may be permitted to pursue insurance).
So my best plan is to hire an accident attorney or a bankruptcy attorney?
if you feel you can win the case, then hire an attorney to defend the accident case.
if you have a lot of other debt too, and/or you think you will lose the case, then bankruptcy may be the better way to go
Most bankruptcy attorneys offer free consultations to review your case
Got it , Thank You so much you have been a huge help!
Great. come back if you have other questions later.
Thanks for your question, good luck
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