Amount of Debt

March 5th, 2008 by Questions

Does the amount of debt affect the chances of receiving a 9-month automatic discharge? I`m in debt $150,000 to about 10 credit card companies. Will some of these financial institutions oppose my bankruptcy because I owe them over $10,000 (owe $17,000 to one)? Does more and higher debt mean higher chances of having your bankruptcy opposed?


One Response to “Amount of Debt”

, Barton Goth GCO Bankruptcy Trustees said:

The amount of debt really has nothing to do with the type of discharge you will receive. Normally creditors don’t oppose a discharge based and quantity, they look at more qualitative aspects (i.e. whas your behavior suspect etc.). But a potential creditor opposition is a good thing to discuss with a local trustee prior to signing any documents or making any decisisons.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)