Is there a bankruptsey threshold?
Can you please tell me if there are lower limits to qualify for bankruptsey? I presently owe about $15,000, consisting of credit card debt, Alberta Health Care, and cell phone bills.
I am presently not working due to health reasons, but even when working, I am barely able to scrape by, let alone pay off these outstanding debts.
Would I be able to declare bankruptsey to get out from under this black cloud? Your opinion would be appreciated.
To qualify for bankruptcy you must owe more than $1,000 and be unable to pay your debts, so in your example, yes, you would qualify.
I suggest you contact a licensed trustee to help you decide if bankruptcy is the correct option for you.