Jon Ginter was recently featured on Cleveland.com.
Under the law, there is no minimum. That being said, it would be foolish to petition the court for bankruptcy relief if only faced with a few thousand dollars of debt.
When assessing your total debt load and how to proceed, the critical questions become:
Do I have any assets that could be sold in order to pay off my debts?
Are there frivolous expenses I could cut that would free up money to help me pay this debt off?
Do I earn enough income to reasonably pay this debt, or am I trapped paying only interest and fees, never putting a dent in the balance?
If you have answered no to the above, it is probable that I can help you.