Are there any circumstances where one can make over the median income and still file chapter 7? We were going to file chapter 13 and keep our house, but now we are thinking of letting the house go and filing 7. We make over the median income for a family our size.....My husband has 2 jobs and I have one...will I have to quit mine and my husband have to quit his part time job in order to file 7?
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If you can pass the means test with you or hub quitting one job, I would definitely do it to file chap 7.
You need to take the means test to be sure though and you might have to wait 6 months for income to drop off.
Life would be a lot easier if you can get a chap 7 over and done and pick up
another job after the BK closes. -
Absolutely! It has to be timed properly and there are many things you can do to increase your chances of success. Oddly enough, the higher your unsecured debt total the better on the means test. Yes, having your hubby stop running himself into the ground working two jobs for the next six months will help. The worst that can happen (unless there's fraud) is that you end up getting converted to a 13. It is worth a try, as long as you're willing to accept the risk of having the Ch. 7 damage to your credit report and ending up in a 13.
Ours was a nearly impossible Ch. 7, but we made it through the process. There are many, many things I've learned along the way that would have made it easier. If you decide to file Ch. 7, I'll be happy to elaborate.
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Yes, please elaborate on your Chapter 7.
I'd really be interested in hearing the details of your case and all that you have learned. Thank you so much!Comment
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Help!, please elaborate.
I'm looking specifically for ways to make filing for Chapter 7 a bit easier.
Thanks so much.Comment
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Berrymom,
Look through old threads. There are dozens of them on this, people asking the same question. The answer is yes, you can be above the median. But there's a lot more information to know about this ... Start reading through the old threads for people "above median" etc.Comment
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Help! Yes, please, I would love to hear the details...I am quitting my job, but hubby would like to keep both of his...and this puts us at only 8 or 10 thousand above the median. We have 3 kids....and we are planning on moving to a house with a rent of about 1200 or so....instead of a house payment of 2200. Now were afraid that they will use the 1200 on the means test instead of the 2200 if we move right away. I've read on several threads that we could file and then possibly stay in our house for a year....if we could just make it till the end of the school year...we would be so happy! That way we weren't in such a rush to find another place.Comment
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