No. The U.S. Bankruptcy Code does not set out any minimum amount of money that you have to owe or be in debt, before filing for bankruptcy.

That being said, if you owe so little that you can easily afford to repay it, and the U.S. Trustee's office or a creditor objected or filed a motion to dismiss your case, then yes, your case could possibly be dismissed for "abuse" of the bankruptcy laws.

But if you are unable to pay your debts, even though it is not a large amount of money owed, then there is no reason why you could not obtain a discharge or cancellation of your debts through bankruptcy, assuming that you otherwise qualify for it.

But think about it carefully before you file bankruptcy over a relatively small amount of money. Filing bankruptcy is a serious decision, and should not be done unless you need to do it. If there is a way for you to avoid filing bankruptcy, we will discuss that with you when you consult with our firm.

J Thomas Black
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Board Certified, Consumer Bankruptcy Law- Texas Board of Legal Specialization