How much debt do you need to file bankruptcy?

There is no minimum debt amount required to file bankruptcy. However, most bankruptcy attorneys recommend filing only when debt exceeds what you can realistically repay within 5 years, typically $10,000 or more.

How long does bankruptcy stay on your credit report?

Chapter 7 bankruptcy stays on your credit report for 10 years from the filing date. Chapter 13 bankruptcy stays for 7 years. Both affect your ability to get new credit, but the impact diminishes over time as you rebuild.

What states does this calculator support?

BankruptcyByState.net supports bankruptcy means test calculations for all 50 states using current federal and state-specific median income figures.

Free Bankruptcy Calculators for All 50 States — 2026 Guidelines

BankruptcyByState.net provides free, state-specific bankruptcy calculators updated with 2026 US Trustee Program median income figures, IRS expense standards, and the latest state exemption statutes. Whether you are deciding between Chapter 7 and Chapter 13, protecting assets before filing, or planning your post-discharge credit recovery, our tools surface the state-level data that determines your outcome.

Bankruptcy law is federal under Title 11 of the US Code, but the practical result varies enormously by state. State exemption laws control which assets you keep; state median income benchmarks determine Chapter 7 eligibility under the means test; and state-specific trustee practices affect how cases are administered. Our calculators account for all of these differences for every one of the 50 US states.

All calculators are free. No account is required. Results are educational estimates intended to help you prepare for a consultation with a licensed bankruptcy attorney — not legal advice.

Our Bankruptcy Calculators

Chapter 7 Means Test Calculator — Compare your income to your state's 2026 median to determine Chapter 7 eligibility. Includes the disposable income test.
Bankruptcy Exemption Calculator — See exactly which assets are protected under your state's exemption laws before you file.
Chapter 13 Payment Calculator — Estimate monthly repayment, plan duration (36 or 60 months), and total debt discharged vs. repaid.
Debt-to-Income Calculator — Calculate your DTI ratio and assess whether bankruptcy is likely the right path.
Credit Recovery Calculator — Project your post-bankruptcy credit score milestones at 1, 2, 4, and 7 years.
Chapter 7 vs. Chapter 13 Comparison — Side-by-side eligibility, timeline, and cost comparison for both chapters.
Discharge Timeline Calculator — Estimate your discharge date and re-filing waiting periods after a prior case.
Non-Exempt Asset Calculator — Identify which assets a Chapter 7 trustee may liquidate and estimate their value.

Calculators by State

Every state has different income thresholds, exemption amounts, and filing considerations. Select your state for a complete set of calculators and a full breakdown of your state's 2026 bankruptcy rules.

Frequently Asked Questions

What is the difference between Chapter 7 and Chapter 13 bankruptcy?

Chapter 7 is a liquidation bankruptcy that discharges most unsecured debts (credit cards, medical bills, personal loans) within 3 to 6 months. A trustee may sell non-exempt assets to pay creditors. Chapter 13 is a reorganization bankruptcy where you keep all assets but repay some or all debts over a 3-to-5-year court-approved plan. To file Chapter 7 you must pass the means test; Chapter 13 is available to anyone with regular income whose debts fall below statutory limits.

What is the bankruptcy means test and how does it work?

The means test is a two-part eligibility test for Chapter 7. First, your average monthly income over the six months before filing is compared to your state's median income for your household size — if you are at or below the median, you qualify automatically. If you are above the median, you proceed to the second part: subtract IRS-allowed monthly expense standards from your income. If remaining disposable income is below the threshold ($166.67/month or $10,000 over 60 months), you still qualify for Chapter 7.

Which assets are protected in bankruptcy?

Bankruptcy exemptions vary significantly by state. Every state fully protects retirement accounts (401k, IRA, pension). Homestead exemptions range from $0 (New Jersey, Pennsylvania) to unlimited (Texas, Florida, Kansas). Vehicle exemptions range from $1,000 to $30,000. Most states have a "wildcard" exemption that can protect any asset. Using our exemption calculator, you can see the exact dollar limits for your state and determine whether any of your assets are at risk.