Deltona, FL Bankruptcy Law Firms & Lawyers

The bankruptcy code does not require a minimum amount of debt to file bankruptcy. If it is going to cost you a certain amount to file a bankruptcy with filing and attorney fees, and you only owe $5,000, is it worth it, that is a question only you can answer. I would probably recommend you try to pay it off and work through it. It depends on your income. But if you don't have the income, cannot afford $5,000, or a number of other issues, bankruptcy might work for you. So much of this depends on your circumstances.

If your inability to make the plan payment appears to be permanent, you may look into converting your case to a Chapter 7. That will eliminate your personal responsibilty for paying your unsecured debts. You can always work out a payment plan with the IRS for your priority tax debt. You didn't mention whether or not you were behind on your mortgage when you filed your Chapter 13. If you were, you will still need to find a way to resolve the repayment of the past due mortgage, and a loan modification might be a good way to do this.

You can file once every 8 years and count the 8 years from the date that you last filed. So if you filed December 01, 2005 you can file again any time after December 01, 2013.