One of the common questions we hear from potential clients is: “Is there a minimum debt limit to file for bankruptcy?” Many people assume that bankruptcy is only for individuals with overwhelming six-figure debt. Others worry that their debt is “not bad enough” to qualify for relief. The truth is simple and reassuring.

There is no minimum debt limit to file for bankruptcy.

If you are struggling to keep up with your financial obligations, bankruptcy may be an option worth exploring, regardless of whether you owe $10,000 or $10,000,000.

We have helped Dallas-area individuals and families across every spectrum of financial hardship. We have successfully filed bankruptcy cases for clients with as little as $10,000 to $15,000 in debt. We have also represented individuals with hundreds of thousands or even millions of dollars in obligations. Bankruptcy relief is not determined by a specific minimum debt threshold. It is determined by whether filing would meaningfully improve your financial situation. (more…)

Unfortunately, sometimes bad things happen to good people more than once. An unexptected hospital bill, the loss of a job, a reduction on pay, or any other financial setback can cause spiraling debt. Sometimes, lightning does strike twice. If you are struggling with overwhelming debt and considering bankruptcy, you may be wondering whether it is possible to file for bankruptcy more than once. The answer is yes — individuals can file for bankruptcy multiple times. However, the timing between filings, the type of bankruptcy previously filed, and the outcome of that case all play critical roles in determining your eligibility and what protections you will receive.

At Rubin & Associates, we understand that financial hardship can strike more than once, even for higher-income families. Whether you have previously filed a Chapter 7 or Chapter 13 case, it is important to know how the law handles repeat filings and how we can help you strategically plan your next steps. (more…)