How much money would you have to be in debt to go bankrupt?

bankrupt
Ms Mayhem asked:


I read an article the other day that said the average 18-25 yr olds go bankrupt on is $1000 ! That’s ridiculous! Kids treat it like its nothing these days!
Gees it sounds like alot of costs in the states. But this was in Aussie.

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1 comment to How much money would you have to be in debt to go bankrupt?

  • mister ed

    i think you must have mis- read it or there was a typo — it costs 300 for court cost and if you get a lawyer he will charge between 1500 and 2000 dollars so if would be dumb to pay 1800 dollars to get rid of 1000 worth of debt — believe they might have dropped a extra zero!!!

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