Is there a limit to the amount of debt I can have when filing for bankruptcy?

Yes, when filing for bankruptcy in the District of Columbia, there is a limit to the amount of debt you can have. According to the District of Columbia Code, unsecured debt limits in the District are set at $400,000 or 80% of your total unsecured debt, whichever is lower. Secured debt limits are set at $1,250,000 or 80% of your total secured debt, whichever is lower. There are certain types of debt that are not counted towards your debt limit, such as child support and spousal support payments, student loans, secured debt on motor vehicles, and certain types of taxes. Additionally, if your debt exceeds the limits set by the District of Columbia, you may still qualify for Chapter 13 bankruptcy which will allow you to reorganize and pay off your debt over a period of time. Before filing for bankruptcy in the District of Columbia, it is important to understand the legal requirements and limits set by the District Code. Consulting with a knowledgeable bankruptcy attorney could be helpful in understanding your rights and obligations when filing for bankruptcy.

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Is there a limit to the amount of debt I can have when filing for bankruptcy?

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