Job And Bankruptcy
This is my first visit here and this may have been asked already as well. My wife and I have taken too much on and can't make ends meet. However, after completing a preliminary Financial Analysis, it appears we make just a little bit too much money for Chapter 13. What should I do - quit my job to fall below the minimum or go with 13. Obviously since I'm going to file for bankruptcy, chapter 7 is much more appealing but I don't want to get into trouble for doing something I shouldn't be. Any suggestions would be greatly appreciated.
If you quit just so you can file a Ch. 7, then you're more than likely going to get in some sort of trouble; it could even get your case thrown out of court and then you're stuck at sqaure one and unable to file ago for several months. Besides if you're unemployed it may be harder to impossible to keep certain debts that you need to reaffirm on (Mortages, cars, etc...) since you have to prove you can pay them and your claimed living expenses without hardship; if the cour thinks it'll be a hardship to keep the reaffirmed debts, you'll not be allowed to reaffirm on them.. Have you tried upping you're montly expenses a little? A lot of people really underestimate themselves in this area. I would talk to a good Bk attorney. And while Ch. 7 looks more appealing, it's not always the best cure all for financiale (sic) problems. The Ch. 13 might be better, a lawyer can tell you this. Have you reached this conclusion on your own or after review of your situation with an experienced bankruptcy attorney? If the former, speak with a lawyer; most pro se filers make significant errors in the schedules that suggest that they would have difficulties in a Chapter 7. If the later, and your attorney says that you won't qualify for a Chapter 7, quitting your job just so that you would qualify could be considered bankruptcy fraud, and could result in your being denied your discharge.
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