has anyone with an income of over 100k been able to file for a chapter 7? or do they automatically make you file for a chapter 13? do they go by your gross or net income?
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We are filing a chapter 7 and make well over 100K and have a mortgage and equity and about 185K in cc's and a car loan too. We are keeping our house -
It all depends on your income and expenses. That's what determins what you can file. Also the type of debt you have as well.Filed Chapter 13 05/23/08
Converted to Chapter 7 Jan 2012
Discharged April 2012
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The lawyer I saw last week (I don't think he knew as much as he should) told me that me and my wife had to make under 66k combined for the year."I'm old enough to know better, but too young to care"
Filed Chapter 7 January 25th 2010
341 Hearing March 4th 2010
Discharged May 10th 2010Comment
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Just based on income, the answer is no. Whether you can file a chapter 7 depends on your expenses and whether they are reasonable for your area, or the type of debt you have. If you have primarily business debt, you can file chapter 7 with high income.Comment
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Is the debt over 50% business debt? If it is the means test does not apply.Comment
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Make sure your lawyer knows you have equity in the house and your state homestead exemptions can cover it.Originally posted by jessegirl View Post
If you make much over a 100K and you don't have the majority of business debt it is going to be a very hard fight to get a chapter 7.
This could be a way for your lawyer to actually charge you more, start a chapter 7 charge you for everything up front. Then after going round and round with the trustee, UST also, then convert to a chapter 13 and you then pay him more in the plan.Comment
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