Debt Consolidation Forums Bankruptcy Chapter 7 and Chapter 13 forums

Can I file bankruptcy even though my income has dropped significantly?

member profile picture
Posts: 1
Credits: 28.35
[Donate]

My income has decreased significantly. I lost job 3 months back. Can I file bankruptcy next month?




What s your plan- filing chapter 7 or 13?

Sub: #1 posted on Fri, 09/15/2017 - 14:51

sanderspatricia29 sanderspatricia29

(Posts: 560 | Credits: 58.69)

Do you have enough assets that you want to keep? As per your given information, I believe chapter 7 is good for you. But, it would be better if you can provide us a better picture of your finances...tell us more about your debts, expenses, income, investments, assets..etc.

Sub: #2 posted on Fri, 09/15/2017 - 18:59

Barbara Delinsky Barbara Delinsky

(Posts: 240 | Credits: 23.81)

You can but have to qualify the means test.

Sub: #3 posted on Tue, 09/19/2017 - 16:00

SC SC
Moderators
(Posts: 3911 | Credits: 396.11)

Chapter 7 is what you can qualify for. Check out other eligibility requirements.

Sub: #4 posted on Thu, 09/21/2017 - 17:39

Mabelle Page Mabelle Page

(Posts: 128 | Credits: 12.35)

It is better you contact a bankruptcy attorney and discuss with him.

Sub: #5 posted on Thu, 09/21/2017 - 18:09

Good Nelly Good Nelly
Industry Expert
(Posts: 2647 | Credits: 530.54)

You can file bankruptcy whenever you want. But count in some factors here:
If you want to take help of bankruptcy to clear your debts, then you can go for Chapter 13.
With a chapter 7 bankruptcy, you will be liquidating some valuable assets.
Bankruptcy is going to hurt your credit report a lot.
But first of all, try to find a job. Money is time mate!

Sub: #6 posted on Fri, 09/22/2017 - 19:36

Phil Bradford Phil Bradford

(Posts: 157 | Credits: 16.04)

Attachment
More information
  • Files must be less than 1.25 GB.
  • Allowed file types: txt pdf jpg jpeg png.
Post as a guest
CAPTCHA
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Post as a member

Share post

Page loaded in 0.834 seconds.