Amount of Debt
There is no minimum amount of debt to file a Chapter 7 or Chapter 13 bankruptcy, and for a Chapter 7 bankruptcy, there is no maximum amount of debt. For a Chapter 13 bankruptcy, your total debt can’t exceed $1,081,400.00.

Income for Chapter 13
You must have some type of income from a legitimate source (but it doesn’t have to be from employment). For example, you can have income from wages, self employment, Social Security, pension or retirement, state assistance, child support and alimony, etc.

Income for Chapter 7
No income is required to file a Chapter 7 bankruptcy.

Maximum Income to File a Chapter 7 Bankruptcy
The maximum income is based on your family size and it is adjusted two times each year. For a family size of 1, the maximum income is approximately $48,000, and it goes up by approximately $5,500 for each additional family member. You can find the exact income here: http://www.justice.gov/ust/eo/bapcpa/20111101/bci_data/median_income_table.htm If your income exceeds the maximum income, you may still be able to file a Chapter 7 bankruptcy if you have special circumstances. For example, if you have a large amount of debt related to a business or investments, or if you have a high child support or alimony payment.